help me in BTC ???

Registered Posts: 8 Regular contributor ⭐ ? ⭐
i try to resolve btc exam jun 2010

Calculate the assessable profits for Olivia for the tax years 2009/10 and 2010/11. Clearly show all relevant dates, and show the amount of overlap profits.

i need to know how we answer it like this

£
2009/10
1 May 2009 to 5 April 2010
Nine months to 31 January 2010 33,570
2 months from year ended 31 January 2011 = 2/12 x £87,000 14,500
______
48,070

2010/11
Year ended 31 January 2011 87,000

Overlap
2 months from year ended 31 January 2011 = 2/12 x £87,000 14,500

i really Confused on 2009\2010 how they solve it
plz help??

• Registered Posts: 97 ? ? ?
For the first year of trading the assessable profits will always be from the date of trading to 6th April.
Therefore in this case for 09/10 you have to calculate the profits from 1 May 09 - 6 April 10.
The profits from 1 May 09 - 31 January 10 are 33570.
You then have to calculate the profits from 1 Feb 10 to 31st March 10.
The profits for the y/e 31 Jan 11 are 87000 - therefore 2 months will be 2/12 x 87000 = 14500.
33570 + 14500 = 48070.

http://www.tolleytraining.co.uk/miscellaneous/demos/BT%20demo%20-%20Manual%20Ch%205.PDF
• Registered Posts: 8 Regular contributor ⭐ ? ⭐
the profits from 1 May 09 - 6 April 10 >>> it's for 11 months

why we do not calculate : 33750*11\12=30937.5

how you choose this period "The profits from 1 May 09 - 31 January 10 are 33570"??

any stander ruls for the period??

thanks alot for ur replay