An individual has capital losses brought forward from previous years amounting to 4,800. Compute the individual's taxable
Question:
An individual has capital losses brought forward from previous years amounting to
£4,800. Compute the individual's taxable gains for 2017-18 if total gains and losses for the year are as follows:
either
(a) gains £10,400, losses £1,000 or
(b) gains £12,200, losses £300 or
(c) gains £17,300, losses £nil.
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When computing taxable gains the first thing to do is offset losses in the current tax year if there ...View the full answer
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