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7: Wood plc has the following results: Year ended 31 March 2022 Trade profit Trading loss Non trading loan relationship Chargeable gain Qualifying charitable donation

7: Wood plc has the following results: Year ended 31 March 2022 Trade profit Trading loss Non trading loan relationship Chargeable gain Qualifying charitable donation 70,000 0 10,000 5,000 -2,000 Year ended 31 March 2023 0 -200,000 10,000 15,000 -2,000 Year ended 31 March 2024 350,000 0 10,000 0 -2,000 Required: Show how the trading losses will be offset assuming the company wishes to save the maximum tax possible

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