A company has the following results for the three years to 31 May 2017: Trading profits/(losses) Gift
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A company has the following results for the three years to 31 May 2017:
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Trading profits/(losses) Gift Aid donations W/e 31/5/15 (32,200) 400 We 31/5/16 23,800 500 We 31/5/17 40,300 600 Assuming that the trading loss is to be carried forward for relief against future trading profits, calculate the company's taxable total profits for each of the three years, showing the amount of losses carried forward at the end of each year. Also calculate the amount of tax saved as a result of trading loss relief.
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Given the financial figures for the three years we must calculate the taxable total profits for each year considering the carry forward of trading los...View the full answer
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