A creative artist has been self-employed for many years. Adjusted trading profits/(losses) in recent years are as

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A creative artist has been self-employed for many years. Adjusted trading profits/(losses) in recent years are as follows:

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Calculate the artist's trading income for 2016-17 to 2020-21 inclusive, assuming that all possible averaging claims are made.

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Taxation Finance Act 2020

ISBN: 9781292360713

26th Edition

Authors: Alan Melville

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Question Posted: Feb 10, 2024 01:01 AM

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A creative artist has been self-employed for many years. Adjusted trading profits/(losses) in recent years are as

Question:

year to 31 September 2016 year to 31 September 2017 year to 31 September 2018 year to 31 September 2019 year to 31 September 2020 43,000 28,440 (5,400) 13,800 21,600

Step by Step Answer:

201617 and 201718 28440 is less than 75 of 43000 ie 32250 so an averaging claim may ...View the full answer

Taxation Finance Act 2020

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