12.3 Marcus begins trading on 1 January 2015 and has the following results: Adjusted trading profits/flosses) Capital

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12.3 Marcus begins trading on 1 January 2015 and has the following results:

Adjusted trading profits/flosses) Capital allowances before capital allowances claimed

£ £

year to 31 December 2015 17,720 6,460 year to 31 December 2016 (7,480) 2,320 He has no other income.

(a) Compute his trading income (before loss relief) for 2014-15 to 2016-17.

(b) Identify the claims that could be made in relation to the trading loss, assuming that early trade losses relief is not claimed. Which (if any) of these claims should be recommended?

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