Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 . Cameron Clegg sold the following assets in 2 0 2 2 / 2 3 : a . Some shares in Tesco plc on

2.Cameron Clegg sold the following assets in 2022/23:
a. Some shares in Tesco plc on 14 May 2021 giving rise to a gain of 25,000;
b. A house on 31 July 2021 giving rise to a gain of 95,000; and
C. A 100% holding in Cameron Clegg Consulting Ltd on 31 August 2021 giving rise to a gain of 3.6 million. Cameron Clegg Consulting Ltd in an unlisted trading company of which Cameron Clegg is managing director. He has owned the shares for 12 years.
Cameron Clegg's only income is a director's salary of 40,000 per annum.
Calculate the CGT payable by Cameron Clegg.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Prepare a make-or-buy differential analysis.

Answered: 1 week ago

Question

Briefly discuss Aristotles approach to dreaming.

Answered: 1 week ago