In June 2012, Pamela bought a freehold building for business use costing 150,000. In July 2020 she
Question:
In June 2012, Pamela bought a freehold building for business use costing £150,000. In July 2020 she sold this building for £261,400 and immediately bought another freehold building, again for business use. Assuming that roll-over relief is claimed, calculate the chargeable gain arising in July 2020 if the cost of the new building is:
(a) £258,900
(b) £149,800
(c) £276,800.
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The gain on the disposal of the original building is computed as follows Sale proc...View the full answer
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