On 1 May 2009, Nigel acquired a 30-year lease for 20,000. He assigned the lease on 1

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On 1 May 2009, Nigel acquired a 30-year lease for £20,000. He assigned the lease on 1 November 2023 for £75,000.

Kay purchased land in February 2015 for £20,000. She sold one-third of the land for £18,000 in March 2024 when the value of the remaining two-thirds was £60,000.

Shirley had the following dealings in the shares of Wingfield plc, a listed company:

No further shares were acquired during 2024.

You are required to:

(i) Calculate Nigel's chargeable gain.

(ii) Calculate Kay's chargeable gain.

(iii) Calculate Shirley's chargeable gain.

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Taxation Finance Act 2023

ISBN: 9781292461083

29th Edition

Authors: Alan Melville

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Question Posted: May 02, 2024 10:39 AM

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On 1 May 2009, Nigel acquired a 30-year lease for 20,000. He assigned the lease on 1

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Taxation Finance Act 2023

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