Yvonne had the following transactions in the shares of Scotia plc:

You are required to:

(a) Calculate Yvonne's chargeable gain.

(b) Calculate Sally's CGT liability for 2020-21, assuming that her taxable income for the year (i.e. total income less reliefs and the personal allowance) was:

(i) £20,000 

(ii) £35,000 

(iii) £45,000.

Also assume that none of Sally's gains relate to the disposal of residential property or qualify for business asset disposal relief. She made no Gift Aid donations or pension contributions during 2020-21.

Transcribed Image Text:

18 August 2007 19 September 2014 13 March 2021 28 March 2021 3,000 shares Bought Bought 2,000 shares Sold 5,000 shares Bought 1,000 shares Sally's capital gains tax position in 2020-21 was as follows: Capital gains arising in the year Capital losses arising in the year Capital losses brought forward 4 6,000 5,000 23,000 4,400 37,900 6,000 11,200