In June 2008 , Gillian was given shares with a market value at that time of 6,000.

Question:

In June 2008 , Gillian was given shares with a market value at that time of £6,000. In November 2015 she made a successful claim to the effect that these shares now had a negligible value of only £80.

(a) Compute the allowable loss.

(b) Compute the chargeable gain arising in March 2018 , when Gillian sold the shares for £120.

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 2017

ISBN: 9781292200804

23rd Edition

Authors: Alan Melville

See More Books

Question Posted: Feb 07, 2024 08:40 AM

See More Questions

In June 2013, Gillian was given shares with a market value at that time of 6,000. In November 2019 she made a successful claim to the effect that these shares now had a negligible value of only 80....
Mr. Walmart the managing director of Sand Ltd meet your manager. Extracts from the email prepared by your manager (a) Sand Ltd group of companies Sand Ltd has two wholly owned subsidiaries, Dump Ltd...
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
Another equation that has been used to model population growth is the Gompertz equation: dy dt ky In(K/y) , where k and K are positive constants. For each y in 0 < y K, show that dy/ dt is never less...
Each of three machined parts is classified as either above or below the target specification for the part.
The dotplot shows the results of rolling a pair of fair, sixsided dice and finding the sum of the up-faces 100 times. Describe the shape of the distribution. 2. 6. 8 10 12 Sum of the up-faces on a...
Extend the putcall parity relationship of Eq. (13.4) to the case in which the underlying stock share pays dividends, with present value D, between now and the maturity of the two options. Data From...
Presented below are two independent transactions. Both transactions have commercial substance. 1. Global Co. exchanged old trucks (cost $64,000 less $22,000 accumulated depreciation) plus cash of...
How is the break-fee be calculated, as the rental properties in the state of Victoria? Apart from the general calculation, please also provide specific information. You may note, 4 weeks' rent if 75%...
Alan bought a chargeable asset for 2,000 in April 1978 . The asset was sold for 29,500 in Janua ry 2018 . Compute the chargeable gain arising on this disposal if the asset's market value on 31 March...
In September 2011, Gloria acquired 1,000 ordinary shares in a listed company for 7,000. Trading in the share s was suspended in December 2017 and Gloria claimed that the shares then had a negligible...
Give as many reasons as you can why we believe that indifference curves are convex to the origin.
MTT Custom Classics uses a job costing system. Overhead is applied on the basis of direct material cost. The overhead rate used is 200% of direct labor cost. The following is an incomplete Cost of...
John works for a toy company, over the past 3 years the company's ABC tablet has been increasing in profits annually. What type of BCG Business portfolio would the tablet be considered ?
Based on the following code, what is the value of y if x = 5? int x, y; if (x < 4) y = 2; else if (x 4) { if (x > 7) y = 4; else } else y = 6; y = 8;
An instrument with maturity period of 15 years was held by Mr. Taylor (a non-resident citizen) for 3 years and transferred to Mr. Edward (a resident alien). Mr. Edward held It for 2 years before...
Please answer each question in detail and in bullet point 1. When Juan Gomez purchased an insurance policy on his life, he named his wife Lois as the beneficiary. Juan and Lois divorced several years...
What is a mark-on percentage?
Splitting hairs, if you shine a beam of colored light to a friend above in a high tower, will the color of light your friend receives be the same color you send? Explain.
After deducting capital allowances for the year to 31 December 2019, the tax written down values of a company's plant and machinery were as follows: Calculate the capital allowances available for the...
A company's income statement for the year to 31 December 2020 is as follows: Compute the company's trading income (before deduction of capital allowances) for the year to 31 December 2020. Turnover...
Identify the accounting periods which relate to the following periods of account: (a) Company A prepares accounts for the year to 31 December 2020. (b) Company B prepares accounts for the six months...
2. Class Implementation. Save your code as lab11_2.py (2-pt). 1) Make a class called User. Create two attributes called first_name and last_name, and then create two more other attributes that are...
Problem 15-3A (Algo) Computing and recording job costs; preparing income statement and balance sheet LO P1, P2, P3, P4 [The following information applies to the questions displayed below.) Bergo...
Manning Systems is a commercial software vendor that sells billing and other financial software to companies around the globe. Manning operates a centralized call center for customer support calls....

In June 2008 , Gillian was given shares with a market value at that time of 6,000.

Question:

Step by Step Answer:

Taxation Finance Act 2017

Students also viewed these Business questions