S Ltd has the following results for the four accounting periods ended 31 March 2024: Year...

 

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S Ltd has the following results for the four accounting periods ended 31 March 2024: Year ended Trade profit/(loss) 31.3.21 31.3.22 31.3.23 14,000 10,000 23,500 31.3.24 (25,000) Interest income 2,200 1,800 2,000 2,400 Property income 800 1,100 0 800 Chargeable gains 0 (700) 0 2,600 QCDs 0 200 200 200 There was a trading loss brought forward at 1 April 2020 of 20,000. Required: Calculate S Ltd's taxable total profits, assuming that loss relief is claimed as early as possible. S Ltd has the following results for the four accounting periods ended 31 March 2024: Year ended Trade profit/(loss) 31.3.21 31.3.22 31.3.23 14,000 10,000 23,500 31.3.24 (25,000) Interest income 2,200 1,800 2,000 2,400 Property income 800 1,100 0 800 Chargeable gains 0 (700) 0 2,600 QCDs 0 200 200 200 There was a trading loss brought forward at 1 April 2020 of 20,000. Required: Calculate S Ltd's taxable total profits, assuming that loss relief is claimed as early as possible.

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To calculate S Ltds taxable total profits we need to take into account the trade profitloss interest ... View the full answer