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I struggle with figuring out from where some numbers come from in questions:
Q179 ‘Problematic Ltd’:
– on sale of 16000 shares cost and indexed cost is £18,880 and £23,927 – how these two amounts have been calculated?
Q180 Volatile Ltd:
– how £8,700 on c/f loss relief on y/e 31.12.14 has been calculated?
I hope someone is working on the bpp revision kit and will be able to help?
Thank you
Total no. of shares acquired are 20,000 shares bringing about a cost of $ 23,600 and an indexed cost of $ 30,280
No. of shares sold are 16,000.
Therefore 16000/20000* $ 23,600 = $18,880
16000/20000* $ 30,280 = $24,224For question 180 they have asked to utilise loss as early as possible so the loss of 73800 will be first set against current years profit of 6600 then we can carry back to 2012 so further 44000+9400 will be utilised and further 5100 for chargable gains so unutilised loss of 8700 will be carry forwarded
loss memorendum
73800
(6600)
(44000)
(9400)
(5100)loss left unutilised 8700
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