A company acquired a chargeable asset (not a chattel) in 1979. The asset was sold in December
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A company acquired a chargeable asset (not a chattel) in 1979. The asset was sold in December 2020 for £2,800. Compute the chargeable gain or allowable loss if the original cost of the asset and its market value on 31 March 1982 (RPI 79.44) were:
The RPI for December 2017 was 278.1.
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a b Sale proceeds Less Original cost Market value 31382 Allowable loss Sale proceeds Less Original c...View the full answer
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