It is hard for me to understand F6/P6 closing rule For instance 1 year end 31 Dec.2011 profit 54000 year end 31 Dec.2012 profit 23835 year end 30 sep.2013 loss (13500) overlap profit:8300 The trading loss 2013/14: (13500)+(8300)=(21800)
For instance 2 year end June.2014 loss (20000) year end Dec.2014 loss (17000) overlap profit:7600 The trading loss for 2014/15: (20000)+(17000)+(7600)=(44600)
Why the treatment in instance 1 is not 23835+(13500)+(8300) like instance 2?
Perhaps in instance no 2 they have carried forward loss to setoff in next year. In instance no 1 it not loss but profit of 23835/= Let me know from which book or kit you saw these examples and may be I can explain you further.