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In a question in the Kaplan practice and revision kit question 249 #2 ye 31.3.21 trading loss 78300 property income 5600 QCD 1100. Ye 31.3.22 trading profit 60000, property income 3000 and qcd paid 1300.
The question is Assuming loser ltd decided to carry the trading loss forward and offset it in the next period as efficiently as possible, what would be the amount of unrelieved loss at 31.3.22.The answer in the kit is B 16600 im really confused as to why they didnt do current year firstly? is it that you can do carry forward without even using it current year?
Thanks
The question clearly states to assume that the trading loss is c/f – and the rule that a company may choose to carry forward all of a trading loss is clearly stated in the Study Notes and lectures – have you used these notes and lectures?
The question is testing here that you understand that when a company carries forward a loss then partial claims are available
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