Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Nim disposed of the following assets during the year 2019/20: 1. On 20 July 2019 Nim made a gift of 10,000, 1 ordinary share in

image text in transcribed

Nim disposed of the following assets during the year 2019/20: 1. On 20 July 2019 Nim made a gift of 10,000, 1 ordinary share in Kapook plc to his daughter. On that date the shares were quoted on the Stock Exchange at 3.70. Nim has made the following purchases of shares in Kapook plc: 19 February 2003 8000 shares for 16,200 6 June 2008 6000 shares for 14,600 24 July 2019 2000 shares for 5,800 II. On 13 August 2019 Nim transferred his entire shareholding of 5000 1 ordinary shares in Jooba Ltd to his wife. On that date the shares were valued at 28,200. Nim's shareholding had been purchased on 11 January 2009 for 16,000. III. On 26 November 2019 Nim sold an antique table for 8,700. The antique table had been purchased for 5,200. W. On 2 April 2019 Nim sold UK Government securities (Gilts) for 12,400. The securities had been purchased for 10,100. Other information Nim has taxable income of 10,000 in the tax year 2019/20. Nim makes no claim for entrepreneur's or gift relief. Required Compute Nim's CGT liability, if any, for the tax year 2019/20. (16 marks) 17 View as Tox Down 500) a prise delete home $ & 3 4 5 6 7 8 9 1 A 9 backspace TU loc y E R T U O P . ] 6 D F G H J K L enter s } z V B ? S pause . t shift 9 j La alt ctrl Nim disposed of the following assets during the year 2019/20: 1. On 20 July 2019 Nim made a gift of 10,000, 1 ordinary share in Kapook plc to his daughter. On that date the shares were quoted on the Stock Exchange at 3.70. Nim has made the following purchases of shares in Kapook plc: 19 February 2003 8000 shares for 16,200 6 June 2008 6000 shares for 14,600 24 July 2019 2000 shares for 5,800 II. On 13 August 2019 Nim transferred his entire shareholding of 5000 1 ordinary shares in Jooba Ltd to his wife. On that date the shares were valued at 28,200. Nim's shareholding had been purchased on 11 January 2009 for 16,000. III. On 26 November 2019 Nim sold an antique table for 8,700. The antique table had been purchased for 5,200. W. On 2 April 2019 Nim sold UK Government securities (Gilts) for 12,400. The securities had been purchased for 10,100. Other information Nim has taxable income of 10,000 in the tax year 2019/20. Nim makes no claim for entrepreneur's or gift relief. Required Compute Nim's CGT liability, if any, for the tax year 2019/20. (16 marks) 17 View as Tox Down 500) a prise delete home $ & 3 4 5 6 7 8 9 1 A 9 backspace TU loc y E R T U O P . ] 6 D F G H J K L enter s } z V B ? S pause . t shift 9 j La alt ctrl

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

Auditing Cases An Interactive Learning Approach

Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt

4th Edition

0132423502, 978-0132423502

More Books

Students also viewed these Accounting questions

Question

How does acceptance sampling differ from process control?

Answered: 1 week ago