*17.6 Jon bought a chargeable asset for 23,000 in May 1979. He incurred enhancement expenditure of 10,000...

Question:

*17.6 Jon bought a chargeable asset for £23,000 in May 1979. He incurred enhancement expenditure of £10,000 in June 1981 and a further £14,000 in July 1995. The asset was valued at £58,500 on 31 March 1982 and was sold for £185,000 in February 2010.

(a) Compute the chargeable gain.

(b) Now re-compute the gain, assuming that the person who bought the asset from Jon in February 2010 was his wife (who lives with him).

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Taxation

ISBN: 978-0273730156

15th Edition

Authors: Alan Melville

Question Posted: