Viscount Ltd is small family business specializing in manufacturing small electronic components. Difficulties with their supply...

  

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Viscount Ltd is small family business specializing in manufacturing small electronic components. Difficulties with their supply chains and lack of demand over the past year have greatly impacted their business and they have incurred a loss for the current financial year. The following results are for the four most recent accounting periods: Year Ending 30/6/19 Year 9 months Ending 31/3/20 105,500 Year Ending 30/6/18 Ending 31/3/21 (180,000) Trading profits/ (losses) 160,000 Chargeable 179,000 (3,000) 4,000 15,000 gains/losses Gift Aid donations 2,000 2,000 2,000 2,000 Required: i. Calculate Viscount Ltd's taxable total profits for each of the four periods, assuming that all possible claims are made to relieve the trading losses as early as possible. i. State the amounts of any losses carried forward as at 31 March 2020 and include a loss schedule as part of your answer. Viscount Ltd is small family business specializing in manufacturing small electronic components. Difficulties with their supply chains and lack of demand over the past year have greatly impacted their business and they have incurred a loss for the current financial year. The following results are for the four most recent accounting periods: Year Ending 30/6/19 Year 9 months Ending 31/3/20 105,500 Year Ending 30/6/18 Ending 31/3/21 (180,000) Trading profits/ (losses) 160,000 Chargeable 179,000 (3,000) 4,000 15,000 gains/losses Gift Aid donations 2,000 2,000 2,000 2,000 Required: i. Calculate Viscount Ltd's taxable total profits for each of the four periods, assuming that all possible claims are made to relieve the trading losses as early as possible. i. State the amounts of any losses carried forward as at 31 March 2020 and include a loss schedule as part of your answer.

Answer rating: 100% (QA)

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