Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Richard is a higher rate taxpayer and during the 2021/22 tax year made the following chargeable disposals: Date Events 10 May 2021 A gain of

Richard is a higher rate taxpayer and during the 2021/22 tax year made the following chargeable disposals:

Date

Events

10 May 2021

A gain of 22,500 on the disposal of a painting

8 July 2021

A loss of 6,000 on the disposal of shares

31 October 2021

A gain of 67,500 on the disposal of a residential property

20 January2022

A loss of 11,000 on the disposal of shares

Compute the amounts of (Capital Gains Tax) CGT payable in respect of 2021/22 stating what payments must be made and the dates by which they should be paid.

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

International Finance

Authors: Keith Pilbeam

4th Edition

0230362893, 978-0230362895

More Books

Students also viewed these Finance questions

Question

q11 Round your answer to two decimal places. years

Answered: 1 week ago

Question

Write short notes on Interviews.

Answered: 1 week ago