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Assume today is 1 March 2020. for 19/20 there is a trading loss of 180000
It is believed that frasco ltd will have a capital loss in the year 20/21.
There is no other disposal made in the year 20/21
the trading loss will be the same as this year.
How will the loss made affect the corporation tax computation of 20/21according to me the answer is:
the loss made will result in a less corporation tax liability made by frasco ltd in 20/21
they can c/f the loss to future years.
what is the right answer? (2 marks)As per previous question – but it worries me that you are mixing references to tax years that apply to individuals and then you say it is a company and further refer to preparing a corporation tax computation for a tax year!
Have you worked through the OT study notes and lectures?
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