Melissa is a sole trader. Her capital gains and capital losses for 2019-20 are 27,000 and 1,000
Fantastic news! We've Found the answer you've been seeking!
Question:
Melissa is a sole trader. Her capital gains and capital losses for 2019-20 are£27,000 and £1,000 respectively. She also has capital losses brought forward from 2018-19 of £12,900 and unrelieved trading losses of £18,500 which are eligible for relief against capital gains in 2019-20.
Required: Calculate Melissa’s taxable gains for 2019-20, assuming that:
(a) a claim to relieve trading losses against capital gains is not made.
(b) a claim to relieve trading losses against capital gains is made.
Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
Posted Date: