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I am quite confused regarding adjustment of tax adjusted trading profit , in some mcqs and questions I’m doing its not adjusted for basis period in some its being adjusted in answers, if its adjusted why do we need to adjust it again and again
Firstly my apologies for not being able to reply until now. Secondly “I am a little confused” as to the question you are asking and maybe an example or two of what you mean would be useful and allow me to better deal with your problem.
What maybe the issues here are whether the question is dealing with an unincorporated trader or an incorporated trade (a company) and if dealing with unincorporated is the question merely asking you to calculate the adjusted trading profit for the accounting period or the assessment for the relevant tax year of assessment?
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