Andrea ceases trading on 31 October 2023. Her adjusted trading profits/(losses) for the closing periods of account

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Andrea ceases trading on 31 October 2023. Her adjusted trading profits/(losses) for the closing periods of account are as follows:

Overlap profits of £3,200 arose when Andrea commenced trading. Calculate the terminal loss, assuming that no claims are made to set trading losses against total income.

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Taxation Finance Act 2023

ISBN: 9781292461083

29th Edition

Authors: Alan Melville

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Question Posted: May 02, 2024 10:01 AM

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Andrea ceases trading on 31 October 2023. Her adjusted trading profits/(losses) for the closing periods of account

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Relieving the terminal loss As stated above a terminal loss may be ...View the full answer

Taxation Finance Act 2023

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