Suzanne acquired the following ordinary shares in Quarine plc: She made no further acquisitions and the shares

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Suzanne acquired the following ordinary shares in Quarine plc:

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She made no further acquisitions and the shares were valued at £3.20 each on 31 March 1982. On 24 July 2020, Suzanne sold 1,200 shares for £7 per share. Compute the chargeable gain or allowable loss arising on this disposal.

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Taxation Finance Act 2020

ISBN: 9781292360713

26th Edition

Authors: Alan Melville

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Question Posted: Feb 11, 2024 02:01 AM

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Suzanne acquired the following ordinary shares in Quarine plc: She made no further acquisitions and the shares

Question:

Date 2 October 1979 10 January 1981 5 December 2004 8 November 2012 24 July 2020 10 August 2020 20 August 2020 31 August 2020 No of shares 200 150 400 250 300 400 350 500 Cost 600 500 1,420 1,160 1,400 2,500 2,600 2,400

Step by Step Answer:

To compute the chargeable gain or allowable loss on the disposal of shares we need to follow a set of steps to determine the cost basis of the shares ...View the full answer

Taxation Finance Act 2020

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