问答题

问答题 (a) Compute the total profits before loss relief of Clouds Ltd in respect of each of the relevant accounting periods. (21 marks)

问答题 (b) Compute the corporation tax liability of Clouds Ltd for the years 2008 and 2009 making maximum use of all available loss reliefs at the earliest opportunity. Your answer should include a loss table showing the order of allocation of losses and any unused losses to be carried forward. (9 marks)