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past exam Spike (06/13)

This topic has 2 replies, 2 voices, and was last updated 10 years ago by acca13.

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April 27, 2015 at 3:18 pm #242937
hui77
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BPP ACCA P6 revision kit:
2 Spike (6/13)
a (i) Trading loss for the tax year 2014/15, according to the answer, the last period would be 1 Jan 2014-30 Sep 2014.
Isn’t the final year from the end of the basis period for the previous year to the date of cessation, which would be 1 Jan 2013 – 30 Sep 2014?
April 30, 2015 at 11:28 am #243372
acca13
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Loss as per question : 9 months ending 30 september 2014 (1.1.14 – 30.9.14)
Loss of last 12 months: 1.10.13 – 30.9.14
April 30, 2015 at 11:35 am #243375
acca13
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Tutorial note from Kaplan kit: The basis period for the tax year 14/15 runs from 1 Jan 14 ( the end of the basis period for the previous penultimate year) until 30 sept 14 ( cessation of trade)
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