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Forums › ACCA Forums › ACCA ATX Advanced Taxation Forums › F6/P6 closing rule for trading profit and loss
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.