On 31 March 1981, Estelle acquired a patent with a 45-year life at a cost of 21,000.

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On 31 March 1981, Estelle acquired a patent with a 45-year life at a cost of £21,000. The patent was valued at £22,000 on 31 March 1982 and Estelle sold the patent on 31 March 2021 for £13,000. Compute the chargeable gain.

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Taxation Finance Act 2020

ISBN: 9781292360713

26th Edition

Authors: Alan Melville

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Question Posted: Feb 11, 2024 02:01 AM

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On 31 March 1981, Estelle acquired a patent with a 45-year life at a cost of 21,000.

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In the UK the chargeable gain on an asset like a patent is usually the difference between the sellin...View the full answer

Taxation Finance Act 2020

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