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in the illustration, it says that the cap on claiming the loss relief against total income is actually advantageous because the majority of the personal allowance was absorbed but not all
– why is absorbing majority of the personal allowance better than absorbing all of the personal allowance?
For the record,
due to the cap, the net income was £10,000 so it only uses £10,000 of the available £11,850 personal allowance.thank you.
Hi,
To ask the Tutor, you should post your question here
https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-taxation-tx-uk-exams/Thank you.
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