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I’m having problems understand this question. Can you clarify the solution?
Question: Assuming that Nim had chargeable gains of £20,000 in the tax year 2017/18, what is the amount of the loss brought forward from 2016/17 which will be carried forward to 2018/19?
Solution: The set off of the brought forward capital losses is restricted to £8,700 (20,000 – 11,300) so that chargeable gains are reduced to the amount of the annual exempt amount. Capital losses carried forward are therefore £(15,800 – 8,700) = £7,100.
How is 15,800 arrived at?
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