How to register for the SQE1 and SQE2 assessments.
How to verify your ID and what you need to provide.
What the survey is, and what it covers.
If you need help or assistance to sit your assessments.
If you are a qualified lawyer, you may be eligible for an exemption.
How to book the SQE1 and SQE2 assessments.
Find out how and when to book your SQE assessments.
Upcoming assessment dates, booking windows, and test centre locations.
Find out how you can take the SQE assessments in Welsh.
Everything you need to know about sitting the SQE1 and SQE2 assessments.
The assessment specification for both FLK1 and FLK2, including annexes and sample questions.
The specification for the written and oral assessments, including annexes and sample questions.
What to expect on the assessment days and how to claim mitigating circumstances.
How to get your results, how assessments are marked, how to resit an assessment, or make an appeal.
What to expect when you get your results, and how to resit any assessments.
Read and download SQE reports.
Learn about what the SQE is, who it's for and how much it costs.
Find out what the SQE is and how it works.
Find out who's eligible to take the SQE, including exemptions.
Find out how much the SQE will cost and how you can pay for it.
Find out what candidates say about their experience of the SQE.
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A company has an accounting reference date of 31 December. It commenced trading in April, so that its first accounting period ended on 31 December of the year in which it commenced trading. During this first accounting period, the company made neither a trading profit nor a trading loss. However, the company did make a chargeable gain of £75,000 in the November, from the sale of a freehold property. The company made no capital losses during this first accounting period
In its second accounting period, which ended on 31 December the following year, the company made a trading loss of £45,000. The company made no capital gain and no capital loss during the second accounting period.
Can the trading loss of £45,000 made in the second accounting period be set off against the chargeable gain of £75,000 from the first accounting period?
A. Yes, because no trading or capital losses were incurred in the first accounting period.
B. No, because a trading loss can only be set off against trading profits from an earlier accounting period.
C. Yes, because the chargeable gain occurred within the 12 month period ending immediately before the accounting period in which the trading loss was incurred.
D. No, because the company was not carrying on business for a full 12 month period before the accounting period in which the trading loss was incurred.
E. No, because a trading loss can only be carried forward and set off against trading profits from a subsequent accounting period.
C - Yes, because the chargeable gain occurred within the 12 month period ending immediately before the accounting period in which the trading loss was incurred.
Create your personal SQE account and book your assessments.
Find out what happens after passing the SQE and admission to the roll of solicitors.