Business Tax Assessment 2.8

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skandwm15
skandwm15 Registered Posts: 16 New contributor 🐸
in Business Tax
Hello,
I'm struggling with trading losses and when to carry the loss forward / backward / current year. Any help would be appreciated!

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  • Tomal123
    Tomal123 Registered Posts: 7
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    im now stuck on this too, can anyone help us out please
  • Dervish_Life
    Dervish_Life Registered Posts: 10 New contributor 🐸
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    Hi, based on the scenario, with my previous hands on experience at a practice, for tax calculations, we would always use the current period loss or previous loss to offset the profits and then calculate the taxable amount.

    I can give exact reply for the scenario but please kindly let me know if you can choose the answer on the right multiple times for each person, or it is just one choice on right matched with the left?
  • Tomal123
    Tomal123 Registered Posts: 7
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    Dervish_Life said:

    Hi, based on the scenario, with my previous hands on experience at a practice, for tax calculations, we would always use the current period loss or previous loss to offset the profits and then calculate the taxable amount.

    I can give exact reply for the scenario but please kindly let me know if you can choose the answer on the right multiple times for each person, or it is just one choice on right matched with the left?

    Hi one choice each all three answers are different so you don't choose the answer on the right multiple times

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