Abe commenced trading on 1 September 2020. The tax adjusted trading profit for his first two accounting periods is as follows: Accounting period Tax adjusted trading profit £ Ten months ended 30 June 2021 15,720 26,340 Year ended 30 June 2022 On what amount of trading profit will Abe be assessed for the tax year 2021-227 £26,340 £20,110 £24,471 £15,720

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Abe commenced trading on 1 September 2020. The tax adjusted trading profit for his first two accounting periods is as follows:
Accounting period
Tax adjusted trading profit
Ten months ended 30 June 2021
£
15,720
26,340
Year ended 30 June 2022
On what amount of trading profit will Abe be assessed for the tax year 2021-22?
£26,340
£20,110
£24,471
£15,720
Transcribed Image Text:Abe commenced trading on 1 September 2020. The tax adjusted trading profit for his first two accounting periods is as follows: Accounting period Tax adjusted trading profit Ten months ended 30 June 2021 £ 15,720 26,340 Year ended 30 June 2022 On what amount of trading profit will Abe be assessed for the tax year 2021-22? £26,340 £20,110 £24,471 £15,720
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