Chapter 12 – Capital Gains Tax – Individuals – ACCA Taxation (TX-UK) lectures
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for example 11 (Other wasting assets (that are not chattels) )
BPP Study text & study hub has used REMAINING LIFE but opentuition has used USED LIFE in caculating cost , please explain a bit
thanks
i got it thanks
Please correct me if I am wrong, practice answer 25 have some typos:
Capital Gains Tax should be £4,750
&
(W1) answer should be £8,700
According to Gov.uk ( https://www.gov.uk/tax-sell-property) a payment on account must be made within 60 days of the disposal of a residential property.
In Example 10 is the Vintage car exempt becausa its a wasting asset ?
Cars are generally exempt, that’s why