*20.5 Terry bought a house for 65,000 on 1 June 1989 and occupied the house as his...

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*20.5 Terry bought a house for £65,000 on 1 June 1989 and occupied the house as his principal private residence. He lived in the house until 1 June 1994 when he went to stay with relatives in Australia, letting the house in his absence. He did not return until 1 June 1998, when he began using one-quarter of the house for business purposes and the other three-quarters as his residence. This arrangement continued until 1 June 2009 when he sold the house for £190,000. Compute the chargeable gain.

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Taxation

ISBN: 978-0273730156

15th Edition

Authors: Alan Melville

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