Hi there
Bit confused with example 5 on opentuition and the personal allowances - why for each year would there be 11k? Surely these would be at the relevant years PA limit and not at 11000 (for 16/17) going right back to 12/13 when PA was only £8105? Or am I missing something?
Ask the Tutor ACCA TX-UK
Tax adjusted trading losses opening years relief
For the exam you will only be provided with the 2016/17 PA and will simply use it for all tax years as you will also do with the AEA for CGT - check the rates and allowances provided in the exam of course but it will only be the 2016/17 information provided.
In real life we would indeed use the correct allowances for each tax year
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