Palma acquired $6\%$ of the ordinary shares in Pan Ltd$,$ a trading company, in June $2012$ for $60,000.$

She sold her shares in March $2023$ for $510,000.$

Palma has worked for Pan Ltd for many years.

Palma made a capital loss of $34,800$ during the tax year $2021/22$ which has not been utilized.

What is Palma's capital gains tax payable for the tax year $2022/23?$ Assume all possible reliefs are claimed and Palma is a higher rate taxpayer.

 

Answer rating: 100% (QA)

Capital Gains Tax Calculation for Palma 202223 Tax Year Given Acquisition Cost June 20... View the full answer