Jon bought a chargeable asset for 23,000 in May 1980. He incurred enhancement expenditure of 10,000 in

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Jon bought a chargeable asset for £23,000 in May 1980. He incurred enhancement expenditure of £10,000 in June 1981 and a further £14,000 in July 1999. The asset was valued at £58,500 on 31 March 1982 and was sold for £185,000 in February 2022.

(a) Compute the chargeable gain.

(b) Now re-compute the gain, assuming that the person who bought the asset from Jon in February 2022 was his civil partner (who lives with him).

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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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Jon bought a chargeable asset for 23,000 in May 1980. He incurred enhancement expenditure of 10,000 in

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Taxation Finance Act 2021

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