On 31 March 1981, Estelle acquired a patent with a 45-year life at a cost of 21,000.

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On 31 March 1981, Estelle acquired a patent with a 45-year life at a cost of £21,000. The patent was valued at £22,000 on 31 March 1982 and Estelle sold the patent on 31 March 2022 for £13,000. Compute the chargeable gain.

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Taxation Finance Act 2021

ISBN: 9781292406725

27th Edition

Authors: Alan Melville

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Question Posted: Feb 02, 2024 06:01 AM

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On 31 March 1981, Estelle acquired a patent with a 45-year life at a cost of 21,000.

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The chargeable gain is the difference between the selling price of an asset and its original cost or ...View the full answer

Taxation Finance Act 2021

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