Sample
687 others answered this question

Question 4c

Gregor has been self-employed since 6 April 2001. He has the following income and chargeable gains for the tax years 2013–14 and 2014–15:
2013–14 2014–15
£ £
Trading profit/(loss) 14,700 (68,800)
Business property profit/(loss) 4,600 (2,300)
Building society interest (gross) 1,300 900
Chargeable gain/(loss) (2,900) 17,400

Required:
On the assumption that Gregor relieves his trading loss of £68,800 as early as possible, calculate the amount of trading loss carried forward to the tax year 2015–16.

Note: You should assume that the tax allowances for the tax year 2014–15 apply throughout. (4 marks)

We use cookies to help make our website better. We'll assume you're OK with this if you continue. You can change your Cookie Settings any time.

Cookie SettingsAccept