21.1 In October 2000, Matthew bought a piece of rare porcelain for 10,000. The porcelain was damaged

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21.1 In October 2000, Matthew bought a piece of rare porcelain for £10,000. The porcelain was damaged in early 2006 and in March of that year Matthew spent £3,850 on restoration work. In July 2006, Matthew's insurance company paid him £4,000 and Matthew successfully claimed that this should not be treated as a part disposal. He sold the porcelain in March 2010 for £23,500. Compute the chargeable gain.

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Taxation

ISBN: 978-0273730156

15th Edition

Authors: Alan Melville

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