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John was born in April 1970.
The following information is available for the tax year 2020/21 :
John started a business on 1 July 2020, and made up his accounts to 31 December each year. The tax adjusted profits for the first three periods of account were as follows:
£
15 months to 31 December 2021 91,000
Year to 31 December 2022 98,000
Year to 31 December 2023 103,000
Other information:
During the tax year 2020/21 John received dividends of £ 16,000 and bank interest of £1,000 in the tax year. He also paid £ 900 into his personal pension scheme .
Calculate adjusted trading profits for the first four tax years and calculate the amount of any overlap profits to be carried forward.
(I do not know how to do this exercise I need help)
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