Nathan begins trading on 1 October 2022, making up accounts to 31 December each year. His first
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Nathan begins trading on 1 October 2022, making up accounts to 31 December each year. His first three sets of accounts show the following adjusted trading profits/(losses):
He has had no other income since becoming self-employed. Before this, his only income consisted of employment income, as follows:
Assuming that all possible early trade losses relief claims are made, calculate Nathan's net income (i.e. total income less reliefs) for years 2019-20 to 2022-23.
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