On the proforma discussed in lecture 2 for Income Tax Computation, in the section for trading profits, it has Trading profits and second line item is “less: trading loss reliefs bfwd, if for the current year there is a trading loss in stead of a trading profit would that replace the line item “trading profits”
If a trading loss was sustained for the current tax year you would simply include “nil” as the trading income assessment – losses are dealt with in Chapter 7. Are you following the lectures along with the notes?