The correct answer is: £14,000.
|
|
y/e 31 December |
|
|
2009 |
2010 |
2011 |
2012 |
|
|
£ |
£ |
£ |
£ |
|
Trading income |
30,000 |
26,000 |
64,000 |
0 |
|
Interest income |
4,000 |
4,000 |
4,000 |
4,000 |
|
|
34,000 |
30,000 |
68,000 |
4,000 |
|
Less: loss relief |
(34,000) |
(30,000) |
(68,000) |
(4,000) |
|
Taxable total profits |
0 |
0 |
0 |
0 |
|
|
|
|
|
|
Loss memorandum
|
|
|
£ |
|
Loss y/e 31.12.12 |
|
150,000 |
|
Less: |
used y/e 31.12.12 |
(4,000) |
|
|
used y/e 31.12.11 |
(68,000) |
|
|
used y/e 31.12.10 |
(30,000) |
|
|
used y/e 31.12.09 |
(34,000) |
|
Unrelieved loss |
14,000 |
|
|
|
|
There is no limit on the loss that can be carried back on cessation. |
