Week 2

Question 1

How do we deal with CAP’s over 12months? E.g 16months

Answer 1

CAP1-12months
CAP2-4months

Tax adjusted profit x 12/16
Tax adjusted profit x 4/16

Question 2

How do we deal with Trade loss? E.g (4,000)

Answer 2

Put as ‘0’ in CT600 in Trade Income

Question 3

Loss option table calculation

Answer 3

Trading income x
Profits from investments x
Chargeable gains x
QCD (x)
=TTP

Question 4

Loss option 1

Answer 4

Carry trade loss into next year

Question 5

Loss option 2

Answer 5

1st set off- minus total of calc of same year trade loss
2nd set off- Trade Loss - 1st set off, then minus year before

Question 6

Loss option 3

Answer 6

1st set off- minus total of calc of same year trade loss

2nd set off- Trade Loss - 1st set off, then minus year after