Taxation of the unincorporated business for ATX-UK - part 1: self-test.

Test your understanding

(1). Abel has always prepared accounts to 30 June. What are the basis periods for the final two tax years if he ceased to trade on either:

(i) 28 February 2023, or
(ii) 31 May 2023?
 

(2). Duncan ceased trading and realised a loss in his final trading period.

What alternative reliefs are available in respect of this loss?

Answers