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David and Angela Brook are a married couple. They disposed of the following assets during the tax year 2 0 2 3 / 2 4
David and Angela Brook are a married couple. They disposed of the following assets during the tax year :
Jointly owned property
a On July David and Angela sold a classic Ferrari car for The car had been purchased on anuary for
b On september David and Angela sold a house for The house had been purchased on otober for
David and Angela occupied the house as their main residence from the date of purchase until March I. The house was then
unoccupied between I April and December due to Angela being required by her employer to work elsewhere in the UK From
January until December David and Angela again occupied the house as their main residence. The house was then
unoccupied until it was sold on sept ember
David Brook
a On April David sold an antique table for The antique table had been purchased on May for
b On May David transferred his entire shareholding of l ordinary shares in Bend company to Angela. On that date, the
shares were valued at David's shareholding had been purchased on June for
Angela Brook
a On May Angela sold an antique cabinet for The antique cabinet had been purchased on June for
b On July Angela sold of the ordinary shares in Bend company that had been transferred to her from David. The
sale proceeds were Angela has taxable income of for the tax year David does not have any taxable income.
Required: Compute David and Angela's respective capital gains tax liabilities for the tax year and state the due date
for payment.
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