In 2014, Shaun bought 20% of the ordinary shares of an unlisted trading company. The shares cost
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In 2014, Shaun bought 20% of the ordinary shares of an unlisted trading company. The shares cost £140,000. He owned the shares until January 2022 when he gave all the shares to a friend. On the date of the gift, the shares had a market value of £500,000 and the company's assets were valued as follows:
Calculate the chargeable gain, assuming that both Shaun and his friend elect that the gain arising should (as far as possible) be held-over.
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Freehold land and buildings Goodwill Investments Motor cars Net current assets 1,700,000 500,000 100,000 40,000 160,000
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