The payment on account calculation: where in the question does it state the b/f losses are £6,000 as explained in the lecture because there are two losses in the tax year of both £6,000 and £11,000 for shares so I am not sure where the £6,000 comes from in order to calculate the payment on account part of the calculation?
Ask the Tutor ACCA TX-UK
Chapter 12 CGT Individuals Illustration
When the property was sold in October the individual was only aware of the 6000 loss at that time when working out how much they had to pay on account.
At the end of the tax year the figures are recalculated and the second loss of 11,000 can now be included
Sign into reply to this topic.