The following information is available: (a) In January 1991, Norman bought a freehold building for use in
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The following information is available:
(a) In January 1991, Norman bought a freehold building for use in his business at a cost of £125,000. In June 2015, he sold this building for £875,000.
(b) In September 2015, he spent £720,000 on buying another freehold building, again for business use. This building was sold in December 2022 for £930,000.
Calculate the chargeable gains arising on the disposal of each building (assuming that Norman claims roll-over relief).
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