Sally (who began trading many years ago and has not ceased trading) incurs an adjusted trading loss

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Sally (who began trading many years ago and has not ceased trading) incurs an adjusted trading loss of £40,000 in the year to 31 December 2020. She has no capital gains.

(a) What is her trading income for 2020-21?

(b) How could her trading loss be relieved?

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Taxation Finance Act 2020

ISBN: 9781292360713

26th Edition

Authors: Alan Melville

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Question Posted: Feb 10, 2024 01:01 AM

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Sally (who began trading many years ago and has not ceased trading) incurs an adjusted trading loss

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a nil b The loss could be carried forw...View the full answer

Taxation Finance Act 2020

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