WUSTO Malcolm has his own manufacturing business and prepares accounts to 31 March. During the year ended 31 March 2022 the following transactions took place 10 June 2021 - Purchased a car, which emits 48g/km of CO2 for 14,000 1.6 July 2021 - Purchased office furniture for 18,000, 1.2 August 2021 - Sold an asset from the special rate pool for 400. It was originally acquired at a cost of 9,000, IV. 17 September 2021 - Purchased a car which emits 115g/km of CO2 for 21,000 v. 23 September 2021. Purchased heat pumps for 6,000. These qualify for enhanced capital allowances vi. 22 December 2021 - Sold an asset from the main rate pool for 3,000. It was originally acquired at a cost of 1,500, vii. 9 January 2022 - Purchased a car, which emits 136g/km of CO2 for 36,500. It has been agreed there is 20% private use of this car by Malcom. vil. 22 January 2022 - Purchased manufacturing equipment for 210,000 the brought forward tax written down balances of the capital allowance pools at the start of the year were: Main pool 31,500 Special pool rate 14,750 Main pool 231,500 Special pool rate 14,750 Required: a) Calculate the capital gain or loss on each disposal and then calculate Tina's liability to capital gains tax (CGT) for 2021122 19 marks b) Tina's sister owns her own house and is thinking of moving elsewhere. Explain the tax rules whereby a period of absence from the principal private residence can be treated as deemed occupation for CGT purposes. 5 mart (Total marks for question 3:25 mark T' + 3 1 T. B 1 VE I WUSTO Malcolm has his own manufacturing business and prepares accounts to 31 March. During the year ended 31 March 2022 the following transactions took place 10 June 2021 - Purchased a car, which emits 48g/km of CO2 for 14,000 1.6 July 2021 - Purchased office furniture for 18,000, 1.2 August 2021 - Sold an asset from the special rate pool for 400. It was originally acquired at a cost of 9,000, IV. 17 September 2021 - Purchased a car which emits 115g/km of CO2 for 21,000 v. 23 September 2021. Purchased heat pumps for 6,000. These qualify for enhanced capital allowances vi. 22 December 2021 - Sold an asset from the main rate pool for 3,000. It was originally acquired at a cost of 1,500, vii. 9 January 2022 - Purchased a car, which emits 136g/km of CO2 for 36,500. It has been agreed there is 20% private use of this car by Malcom. vil. 22 January 2022 - Purchased manufacturing equipment for 210,000 the brought forward tax written down balances of the capital allowance pools at the start of the year were: Main pool 31,500 Special pool rate 14,750 Main pool 231,500 Special pool rate 14,750 Required: a) Calculate the capital gain or loss on each disposal and then calculate Tina's liability to capital gains tax (CGT) for 2021122 19 marks b) Tina's sister owns her own house and is thinking of moving elsewhere. Explain the tax rules whereby a period of absence from the principal private residence can be treated as deemed occupation for CGT purposes. 5 mart (Total marks for question 3:25 mark T' + 3 1 T. B 1 VE
