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Chapter 7 loss relief-cap

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Chapter 7 loss relief-cap

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by AvatarTax Tutor.
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  • May 17, 2018 at 3:57 pm #452476
    Avatarhagun527
    Member
    • Topics: 17
    • Replies: 2
    • ☆

    Hello
    In page 49 the illustration, the cap can deduct employment income, however in page 51,exam 5, don’t use cap to deduct employment income
    Could you explain these two difference
    Thank you

    May 21, 2018 at 3:26 am #453057
    AvatarTax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    In example 5 the non trading income (employment income) clearly does not exceed 50,000 so there is no cap to apply

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