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Syllabus B1. Adjustment of trading profits / losses for tax purposes
Syllabus B1
Adjustment of trading profits / losses for tax purposes 1 / 6
a) Recognise the basis of assessment for self- employment income.
b) Explain the principles of deductible and non- deductible expenditure.
c) Recognise the relief that can be obtained for pre-trading expenditure.
d) Prepare adjusted profit computations.
e) Illustrate the use of capital allowances on commencement and cessation of business.