John dies on 3 March 2021. Between 6 April 2020 and 3 March 2021, he has capital
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John dies on 3 March 2021. Between 6 April 2020 and 3 March 2021, he has capital gains of £1,200 and capital losses of £15,400. His net gains in recent tax years (and the annual exemption for each year) have been as follows:
Explain how (and to what extent) John's net losses in 2020-21 will be relieved.
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2016-17 2017-18 2018-19 2019-20 Net gains 52,800 17,800 14,500 3,750 Annual exemption 11,100 11,300 11,700 12,000
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Net losses in 202021 are 14200 The annual exemption is lost and taxable gains for the ...View the full answer
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