Sally began trading many years ago, preparing accounts to 5 April each year. She has an adjusted

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Sally began trading many years ago, preparing accounts to 5 April each year. She has an adjusted trading loss of £40,000 in the year to 5 April 2024. She has no capital gains.

(a) What is her trading income for 2023-24?

(b) How could her trading loss be relieved?

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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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Sally began trading many years ago, preparing accounts to 5 April each year. She has an adjusted

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a The year to 5 April 2024 is the basis period for tax year 20232...View the full answer

Taxation Finance Act 2023

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