Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Thank you for your help! Sonali has taxable income in 2022/23 of 30,000, brought forward capital losses of 2,000 and made the following disposals during
Thank you for your help!
Sonali has taxable income in 2022/23 of 30,000, brought forward capital losses of 2,000 and made the following disposals during the year: - Sale of some cryptocurrency on 5 July 2022 for 19,600. The currency had cost of 6,200 and Sonali had to pay broker's fees of 10% of the proceeds. - Sale of 16,0008% Treasury stock for 29,500 on 27 September 2022. Sonali had acquired the stock in April 2012 at par. - Sale of one-third of a plot of land on 31 October 2022 for 75,000. Selling costs of 3,700 were incurred on the sale. The land had been purchased in March 2012 for 100,000 and the value of the remaining two-thirds of the land in October 2022 was 90,000. Requirement Calculate the capital gains tax payable by Sonali for 2022/23. (8 marks) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started