In January 1981, Norman bought a freehold building for use in his business at a cost of
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In January 1981, Norman bought a freehold building for use in his business at a cost of £120,000. The building had a market value on 31 March 1982 of £125,000. In June 2015 he sold the building for £875,000 and in September 2015 he spent £720,000 on buying another freehold building for business use. This building was sold in December 2021 for £730,000. Compute the gains arising on the disposal of each building (assuming that Norman claims roll-over relief).
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