In March 2021, Naomi sells an oil painting which she had acquired many years previously for 10,000.
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In March 2021, Naomi sells an oil painting which she had acquired many years previously for £10,000. Compute the allowable loss if she sells the painting for:
(a) £7,200
(b) £2,700
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a Naomi has disposed of a chattel for more than 6000 so the disposal is not exempt from capital ...View the full answer
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