Losses in opening years – ACCA Taxation (TX-UK) Exam FA2019
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Good afternoon. I just got a little bit confused on the example 5. Why we used 12,500 PA in 2016/17, 2017/18? Surely, the actual PA was less than 12,500. Can you please advise?
Many thanks for your help.
Read the example again, it says assume that the personal allowance for the 2019/20 tax year applies throughout!!!