On 31 March 1978, Philip acquired a 45-year copyright at a cost of 75,000. The copyright was
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On 31 March 1978, Philip acquired a 45-year copyright at a cost of £75,000. The copyright was valued at £82,000 on 31 March 1982. On 31 March 2018, Philip sold the copyright for £47,000. Compute the chargeable gain.
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Rebasing applies since the copyright was acquired b...View the full answer
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