terminal loss

This topic has 1 reply, 2 voices, and was last updated 1 year ago by JillyB.

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November 6, 2024 at 8:07 pm #713067
alawi sayed
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Hi Jilly,

How are you,

For this example 5 of the OT notes of Terminal Loss -Individuals

why we did not care about the personal allowance in the year ending 31 Mar 2023 as we have a trading profit of 6000 only and so this can be covered by personal allowance so why in your answer you did not care about the PA here.

Thanks
November 7, 2024 at 4:36 pm #713105
JillyB
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The question is about utilising the loss and applying the rule to the question rather than taking PA into account – it’s just an example
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