Business Source Summary Adjustments (BSAS)

A Business Source Adjustment Summary (BSAS) is a set of adjustments that can be made after all your quarterly updates have been submitted. These adjustments apply to a specific business income source and allow you to amend the cumulative income and expenditure figures reported in your previously filed updates.

To view your existing business source adjustments, go to the Workflow area, click the Options menu, and select View / Amend Business Adjustments.

To create a new set of adjustments, click the New Adjustments button.

Next, select the relevant business source and specify the period for which the adjustments will apply.

You’ll then see an overview of the business, the status of the current adjustment, and any previous adjustments that have been made for this source of income.

Adjustments should be entered against the appropriate HMRC reporting categories. Note that only the incremental adjustment amounts should be entered, not the cumulative figures.

Once you’re satisfied with your adjustments, submit them to HMRC. Your BSAS report will then update to reflect the inline adjustments and show the revised income and expenditure totals.

After submitting a BSAS, it’s recommended to generate a new tax calculation to ensure that any changes to your income are accurately reflected in your overall tax position.