hello in the practice question 18, when Betty resigned the partner,why she could use the total overlap relief of the partner 3000? this relief doesn’t need to splite between Anne and Betty as 1:1? so if when Anne resign the partner, she can also use this 3000 overlap relief? thanks
The question clearly states that EACH partner has overlap profits of 3,000! Remember that we assess each partner on their share of the adjusted trading profits of the partnership – we do not assess the partnership!