In November 2023, Leroy transfers his business to a limited company in exchange for 50,000 in cash

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In November 2023, Leroy transfers his business to a limited company in exchange for £50,000 in cash and shares which are valued at £600,000. The gain arising on the transfer is £260,000. Leroy does not elect to disapply incorporation relief.

Calculate the amount of the gain which is immediately chargeable and the amount which is held-over.

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Taxation Finance Act 2023

ISBN: 9781292461083

29th Edition

Authors: Alan Melville

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Question Posted: May 02, 2024 10:01 AM

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In November 2023, Leroy transfers his business to a limited company in exchange for 50,000 in cash

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The heldover gain is 260000 600000650...View the full answer

Taxation Finance Act 2023

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