In May 2012, Edward paid 350,000 to buy a 20-year lease on a flat. In November 2020
Question:
In May 2012, Edward paid £350,000 to buy a 20-year lease on a flat. In November 2020 he granted a 5-year sub-lease on the flat to Petronella for £150,000. The flat was never Edward's principal private residence. Compute the chargeable gain.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
To compute the chargeable gain we need to consider the following 1 Edwa...View the full answer
Answered By
Ankit Mahajan
I am an electrical engineering graduate from Thapar institute of engineering and technology.
Qualified exams - GATE 2019,2020.
CAT EXAM 2021- 91.4 percentile
SSC EXAMS- 2019,2020,2021
AFCAT EXAM- 2019,2020,2021
I want to share my knowledge with other people so that they can achieve the same.
I have strong hold Mathematics, Electrical engineering and all the subjects related.
Just give me a problem and I will give you the solution of it.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
In May 2009, Edward paid 350,000 to buy a 20 -year lease on a flat. In November 2017 he granted a 5 -year sub-lease on the flat to Petronella for 150,000. The flat was never Edward's principal...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Assume that global lightning on the Earth constitutes a constant current of 1.00 kA between the ground and an atmospheric layer at potential 260 kV. (a) Find the power of terrestrial lightning. (b)...
-
Analyze the American dream as it relates to the two main characters, Jay Gatsby and Charles Foster Kane in terms of three issues that you have chosen. When you do comparison and contrast, you need to...
-
(Difficult) Use call-with-current-continuation (call/cc) to implement the following structured nonlocal control transfers in Scheme. (This requires knowledge of material in Chapter 11.) You will...
-
Uffington Limited was formed on 1 January 2009. The company's unpublished income statement for 2009 and its balance sheet as at 31 December 2009 are as follows: The company is about to embarl~ on an...
-
For the current year ended March 31, Benatar Company expects fixed costs of $1,250,000, a unit variable cost of $140, and a unit selling price of $100. a. Compute the anticipated break-even sales...
-
Use the dot product to find the magnitude of u. u = 12i + 22j 1 26
-
Paul made the following acquisitions and disposals of ordinary shares in Crimmon plc: No further shares were acquired during 2020. Against which acquisitions will each of the above disposals be...
-
On 31 March 1981, Estelle acquired a patent with a 45-year life at a cost of 21,000. The patent was valued at 22,000 on 31 March 1982 and Estelle sold the patent on 31 March 2021 for 13,000. Compute...
-
Assume that you are the regional operations manager responsible for 27 Burger Queen Restaurants. What types of demand forecast models do you think you would need for your short-term planning? What...
-
You have identified an actively managed mutual fund with the following characteristics: alpha of 0.50%, beta of 1.3, and standard deviation of 16%. The expected excess return on the S&P500 is 7% and...
-
Making use of original examples to provide a wellrounded answer, fully discuss the five (5) categories of consumer motivation as outlined by Maslow's making use of an infographic. Ensure you answer...
-
For which type of investor are alternative investments least suitable? Those seeking short-term capital gains Those who wish to improve the risk-adjusted returns of a portfolio Those seeking greater...
-
Bramble Corp. traded machinery with a book value of $764500 and a fair value of $695000. It received in exchange from Cullumber Company a machine with a fair value of $822000. Bramble also paid cash...
-
determine the specific volume of compressed liquid water at 185 degree celsius and 0.5mpa
-
From the income statement accounts on the next page: a. Produce the income statement for the year b. Produce the operating cash flow for the year Income Statement Accounts For the Year Ending 2011...
-
DEPARTMENT DATA EMPLOYEE DATA EmployeeNumber FirstName Mary Rosalie Richard George Alan 3 4 5 7 8 9 855555ES 12 13 14 15 16 17 Create the database tables in SQL or ACCESS: 18 19 20 PROJECT DATA Ken...
-
Jon bough t a chargeable asset for 23,000 in May 1979. He incurred enhancement expenditure of 10,000 in June 1981 an d a further 14,000 in July 1998 . The asset was valued at 58,500 on 31 March 1982...
-
Alan bought a chargeable asset for 2,000 in April 1978 . The asset was sold for 29,500 in Janua ry 2018 . Compute the chargeable gain arising on this disposal if the asset's market value on 31 March...
-
In June 2008 , Gillian was given shares with a market value at that time of 6,000. In November 2015 she made a successful claim to the effect that these shares now had a negligible value of only 80....
-
Kumara Corporation reported pretax book income of $1,530,000. Kumara also reports an increase in the taxable temporary differences of $327,500, an increase in the deductible temporary differences of...
-
Slumlord Floyd is getting a lot of complaints from tenants about how little care he takes of his rental property. Floyd ends up having several deductions disallowed under the Substandard Housing...
-
Nakashima Gallery had the following petty cash transactions in February of the current year. Nakashima uses the perpetual system to account for merchandise inventory. February 2 Wrote a $360 check to...
Study smarter with the SolutionInn App