Could anyone help me in this please? its v urgent need today.
John Started Trading 1 October 2007 and ceased trading on 31 December 2013. He had a few changes of his accounting periods end during that are as follows.
Year Ended 30 September 2008 ——— 16,000 9 Months to 30 June 2009 ——————- 12,000 Year ended 30 June 2010 ——————- 24,000 18 months to 31 December 2011 ——— 36,000 Year Ended 31 December 2012 ———- 18,000 year ended 31 december 2013 ———– 28,000
Required Calculate the amount of trading profits that will have been assessed on John for the tax years 2006/07 to 2012/13 respectively. Clearly identifying the amount of any overlap profits.