Ken starts trading on 1 October 2015 and chooses 30 April as his accounting date. He ceases
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Ken starts trading on 1 October 2015 and chooses 30 April as his accounting date. He ceases trading on 31 January 2021 and has adjusted trading profits as follows:
Compute Ken's trading income for all tax years.
Transcribed Image Text:
7 months to 30 April 2016 year to 30 April 2017 year to 30 April 2018 year to 30 April 2019 year to 30 April 2020 9 months to 31 January 2021 3,500 18,480 17,700 27,900 28,200 17,300
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To compute Kens trading income for all tax years we need to consider the UK tax year which runs from 6 April to the following 5 April Lets allocate th...View the full answer
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