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- This topic has 1 reply, 2 voices, and was last updated 1 year ago by JillyB.
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- February 18, 2023 at 5:35 pm #679109
Dear tutor:
Nim disposed of the following assets during the tax year 2021/22:
(1) On 20 July 2021 Nim made a gift of 10,000 £1 ordinary shares in Kapook plc to his daughter. On that date the shares were quoted on the stock exchange at £3.70-£3.80.Nimhas made the following purchases of shares in Kapook plc:
?19 February 2004:8,000 shares for £16,200
?6 June 2009:1 for 2 rights issue at £3.65 per share
?24 July 2021:2,000 shares for £5,800
Nim’s total shareholding was less than 5% of Kapook plc, and so holdover relief is not available.
(2) On 13 August 2021 Nim transferred his entire shareholding of 5,000 £1 ordinary shares in Jooba Ltd, an unguoted companu, to his wife. On that date the shares were valued at£28,200. Nim’s shareholding had been purchased on 11 January 2010 for £16,000.
(3) On 26 November 2021 Nim sold an antique table for net proceeds of £8,700 after deducting the sale costs of £300. The antique table had been purchased for £5,200.
135 What is the total cost of the shares in Kapook ple sold on 20 July 2021?£26,333
£28,500
£25,667
£20,533
I calculate that the answer is 30800/12000*10000=25667,but it is fault,why?February 20, 2023 at 9:59 am #679204You need to read the chapter on CGT – shares for individuals and watch the recorded lecture. This explains about the matching rules and share pools. Watch/read and try the question again.
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