Jon bought a chargeable asset for 58,500 in October 1991. He incurred enhancement expenditure of 10,000 in

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Jon bought a chargeable asset for £58,500 in October 1991. He incurred enhancement expenditure of £10,000 in December 1994 and a further £4,000 in July 2010. The asset was sold for £185,000 in February 2024.

(a) Compute the chargeable gain.

(b) Now re-compute the gain, assuming that the person who bought the asset from Jon in February 2024 was his civil partner (who lives with him).

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Taxation Finance Act 2023

ISBN: 9781292461083

29th Edition

Authors: Alan Melville

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Question Posted: May 02, 2024 10:01 AM

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Jon bought a chargeable asset for 58,500 in October 1991. He incurred enhancement expenditure of 10,000 in

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Taxation Finance Act 2023

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