*11.6 Craig began trading on 1 August 2007 and has the following results: Adjusted trading profits/(losses) Capital...
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*11.6 Craig began trading on 1 August 2007 and has the following results:
Adjusted trading profits/(losses) Capital allowances before capital allowances claimed
£ £
year to 31 July 2008 5,460 1,140 year to 31 July 2009 (27,400) 1,920 Before commencing to trade, Craig had only investment income. He sold all of his investments in July 2008 (realising a large capital gain) so as to raise extra working capital for his own business. His income from investments in recent years has been:
£
2005-06 4,150 2006-07 4,940 2007-08 2,190 2008-09 (to July 2008) 1,510
(a) Compute Craig's trading income for 2007-08 to 2009-10.
(b) Explain the trading loss reliefs available to Craig. Which would you recommend?
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