In October 2017, Jackie bought a chattel for 3,500. In October 2023 she sells a one-third interest

Question:

In October 2017, Jackie bought a chattel for £3,500. In October 2023 she sells a one-third interest in this chattel for

£2,000. Compute the chargeable gain if the market value of the remaining two-thirds interest in October 2023 is:

(a) £4,000

(b) £5,000.

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

Step by Step Answer:

Related Book For book-img-for-question

Taxation Finance Act 2023

ISBN: 9781292461083

29th Edition

Authors: Alan Melville

See More Books

Question Posted: May 02, 2024 10:01 AM

See More Questions

Determine the intervals of continuity for the following functions. The graph of Exercise 9 y, 5 4 y = f(x) 3 2 1 3 4 5
The graph shows one of the eight basic functions and a transformation of the function. Describe the transformation. Then use your description to write an equation for the transformation. 5 43 2 -1 y...
Using a programming language of your choice, implement an algorithm that generates the sets required for Maekawa's mutual exclusion algorithm. You must implement a simulated distributed computing...
One popular activity that tourists participate in when they visit Alaska is panning for gold. A gift shop by the panning center sells blocks of clay. The packaging on the clay claims that one in five...
The comparative financial statements of New World Piano Company for 20X3, 20X2, and 20X1 included the following selected data: Required 1. Compute these ratios for 20X3 and 20X2: a. Current ratio b....
Two college graduates recently joined the same major newspaper as journalists. Both work long hours and have tight deadlines for completing their stories. They are under constant pressure to scout...
What is the laid-down cost? What is a market boundary? Why are laid-down costs important in determining market boundaries? LO.1
1. What are you (in the role of Kathy Dalton) going to present at the outsourcing strategy meeting, and why? 2. When companies like Dell are contracting outsourcing in some areas, should eBay...
In a competitive business environment, using break-even analysis would be least effective a) in making new agreements with its unions at contract time. b) changing the mix of its products offered. c)...
Andrew acquired a set of six dining chairs in January 2016 for 1,300. In March 2023 he sold three of the chairs to a friend for 5,200 (the other three chairs also being valued at 5,200 at that time)....
In March 2024, Naomi sells an oil painting which she had acquired many years previously for 10,000. Compute the allowable loss if she sells the painting for: (a) 7,200 (b) 2,700
From your previous course(s) in economics, do you recall the concepts of inflation, recession, growth? Marginal propensity to consume, multiplier, accelerator? Monetary policy, budget deficit, fiscal...
Manufacturing company produces $3800 worth of products weekly. If the cost of raw materials to make this product is $400, and the labour cost is $360, calculate the productivity.
1-You are a very well-recognized professional in your area, with many years of experience solving international conflicts. There is a company in the middle of two European countries that are fighting...
Find the solution u = u(x,y) of the following problem on the set R. u du - 4, (1.4) Ju(0,y) =3y, u(x, 0) = 0. (1.5) ay
Scenario A Sports Club 10 Highfield Sports Club has organised a fundraising event. 300 tickets have been sold at a price of $2.50 each. Money taken at the event Percentage of money (E) taken (96)...
Shamrock Investments has three divisions (Green, Clover, Seamrog) organized for performance evaluation purposes as investment centers. Each division's required rate of return for purposes of...
The figure shows the relationship between the number of miles per gallon on the highway and that in the city for some cars. a. Report the slope and explain what it means. b. Either interpret the...
Sue Deliveau opened a software consulting firm that immediately paid $2,000 for a computer. Was this event a transaction for the business?
You would like to have a balance of $600,000 at the end of 15 years from monthly savings of $900. If your returns are compounded monthly, what is the APR you need to meet your goal?
Explain the importance of covariance and correlation between assets and understanding the expected value, variance, and standard deviation of a random variable and of returns on a portfolio.
On August 1 , 2 0 2 3 , Mark Diamond began a tour company in the Northwest Territories called Millennium Arctic Tours. The following occurred during the first month of operations: Aug. 1 Purchased...

In October 2017, Jackie bought a chattel for 3,500. In October 2023 she sells a one-third interest

Question:

Step by Step Answer:

a The value of the whole chattel on the date of the part dispo...View the full answer

Taxation Finance Act 2023

Students also viewed these Business questions