Question 3 Sarah has been self-employed since 2005. She has the following income and chargeable gains for the tax years 2018/19 to 2021/22: 2018/19 2019/20 2020/21 2021/22 Trading profit (loss) 14,580 52,500 (81,500) 27,955 Building society interest - 8,200 5,700 4,260 Chargeable gains/(loss) 24,200 26,600 (4,500) 16,200 The chargeable gains are stated before taking account of loss relief and the annual exempt amount. Required: (a) State the factors that influences an individual's choice of loss relief claims. (13 marks) (b) Calculate Sara's taxable income and chargeable gains for each of the tax years 2018/19, 2019/20, 2020/21 and 2021/22 on the assumption that she relieves the trading loss of 81,500 for the tax year 2020/21 on the most favourable basis. (12 marks) You should assume that the tax rates and allowances for the tax year 2021/22 apply throughout