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trading loss

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › trading loss

  • This topic has 0 replies, 1 voice, and was last updated 9 years ago by jingdong.
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  • March 1, 2016 at 4:04 pm #302851
    jingdong
    Participant
    • Topics: 89
    • Replies: 115
    • ☆☆☆

    Hello Tutor, there is another question shown as follows:
    Trancis is a sole trader who has been in business for many years preparing accounts to 5 April each year. His recent results have been as follows:
    y/e 5 April 2014 Profit ……………………16000
    y/e 5 April 2015 Loss……………………..(25000)
    Francis has gross invetment income of £3000 each year. He is expected to make trading profits of around £12,000 per annum over the next few years.
    What is the trading loss to carry forward to the tax year 2015/2016 if Francis makes the most advantageous claim for loss relief?
    the answer is 6000, would you please help me?
    many thanks

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