Skip to content
ACCA exam results — Are you ready?Chat about it >>

Ask the Tutor ACCA TX-UK

trading loss

Jjingdong10y ago
Hello Tutor, there is another question shown as follows: Trancis is a sole trader who has been in business for many years preparing accounts to 5 April each year. His recent results have been as follows: y/e 5 April 2014 Profit ........................16000 y/e 5 April 2015 Loss..........................(25000) Francis has gross invetment income of £3000 each year. He is expected to make trading profits of around £12,000 per annum over the next few years. What is the trading loss to carry forward to the tax year 2015/2016 if Francis makes the most advantageous claim for loss relief? the answer is 6000, would you please help me? many thanks
Sign in to reply to this topic.