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terminal loss

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

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  • November 6, 2024 at 8:07 pm #713067
    alawi sayed
    Participant
    • Topics: 293
    • Replies: 345
    • ☆☆☆☆

    Hi Jilly,

    How are you,

    For this example 5 of the OT notes of Terminal Loss -Individuals

    why we did not care about the personal allowance in the year ending 31 Mar 2023 as we have a trading profit of 6000 only and so this can be covered by personal allowance so why in your answer you did not care about the PA here.

    Thanks

    November 7, 2024 at 4:36 pm #713105
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 857
    • ☆☆☆☆

    The question is about utilising the loss and applying the rule to the question rather than taking PA into account – it’s just an example

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