b) Orla's husband, Jake, commenced self-employment on 1 January 2018. He had tax adjusted trading profits...

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b) Orla's husband, Jake, commenced self-employment on 1 January 2018. He had tax adjusted trading profits as follows: Six months ended 30 June 2018 Year ended 30 June 2019 Year ended 30 June 2020 25,200 27,600 31,315 Required: Calculate the amount of trading profit that will have been assessed on Jake for the tax years 2017/18 to 2020/21 (inclusive), clearly identifying the amount of any overlap profit. (10 marks) b) Orla's husband, Jake, commenced self-employment on 1 January 2018. He had tax adjusted trading profits as follows: Six months ended 30 June 2018 Year ended 30 June 2019 Year ended 30 June 2020 25,200 27,600 31,315 Required: Calculate the amount of trading profit that will have been assessed on Jake for the tax years 2017/18 to 2020/21 (inclusive), clearly identifying the amount of any overlap profit. (10 marks)

Answer rating: 100% (QA)

To calculate the trading profit assessed on Jake for the tax years 201718 to 202021 we need to consi... View the full answer