Annette commenced trading on 1 October 2017, preparing her accounts to 30 June. The adjusted profits...

Transcribed Image Text:

Annette commenced trading on 1 October 2017, preparing her accounts to 30 June. The adjusted profits for the first 3 accounting periods have been agreed as follows: Period to 30 June 201812,150 Year ended 30 June 201910,000 Year ended 30 June 2020 17,400 Required: Identify the tax years, the basis periods and the taxable profits for each of the above periods. Identify also the overlap profits. Annette commenced trading on 1 October 2017, preparing her accounts to 30 June. The adjusted profits for the first 3 accounting periods have been agreed as follows: Period to 30 June 201812,150 Year ended 30 June 201910,000 Year ended 30 June 2020 17,400 Required: Identify the tax years, the basis periods and the taxable profits for each of the above periods. Identify also the overlap profits.

Answer rating: 100% (QA)

To identify the tax years basis periods taxable profits and overlap profits for each accounting peri... View the full answer