Susan made the following purchases of ordinary shares in Semicycle plc: In January 2021, the company went
Question:
Susan made the following purchases of ordinary shares in Semicycle plc:
In January 2021, the company went into liquidation and Susan received a first distribution of £2 per share. The market value of an ordinary share in Semicycle plc just after this distribution was £1. Compute the allowable loss arising in January 2021.
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To calculate the allowable loss that Susan can claim we need to look at the amount she originally in...View the full answer
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