SECTION 4 Q & A ANSWERS TO MOCK EXAMQUESTIONS 1 (A) MARK KETT –...

5,600 – 15,400).

(iii) (1) The trading loss for the final twelve months of trading can be relieved

against total profits for the previous 36 months under s39 CTA 2010.

(2) Therefore the unrelieved losses of £57,300 could have been carried back

and fully set off in the year ended 30 June 2010.

(b)

Lifetime transfer

£

Value before transfer (3,000/5,000 = 60%)