Olive ceases trading on 31 May 2021. Her recent adjusted trading profits/(losses) are: Overlap relief of 7,140
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Olive ceases trading on 31 May 2021. Her recent adjusted trading profits/(losses) are:
Overlap relief of £7,140 is available. Calculate the terminal loss and show how this would be relieved, assuming that Olive has savings income of £10,000 per annum and that no claims are made to set trading losses against total income.
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