In November 2017 , Leroy transfers his business to a limited company in exchange for 50,000 in

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In November 2017 , Leroy transfers his business to a limited company in exchange for £50,000 in cash and shares which are valued at £600,000. The gain arising on the transfer is £260,000. Leroy does not elect to disapply incorporation relief. Calculate the amount of the gain which is immediately chargeable and the amount which is held -over.

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