A company has the following results for the three years to 31 March 2022: Assuming that the
Question:
A company has the following results for the three years to 31 March 2022:
Assuming that the trading loss is carried forward and that maximum loss relief is taken as soon as possible, calculate the company's taxable total profits for each of the three years, showing the amount of losses carried forward at the end of each year. Also calculate the amount of tax saved as a result of trading loss relief.
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Trading profits/(losses) Gift Aid donations yle 31/3/2020 (32,200) 4,000 yle 31/3/2021 23,800 5,000 yle 31/3/2022 40,300 6,000
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To address your question well need to consider the trading profitslosses and Gift Aid donations for each of the respective years then apply trading lo...View the full answer
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