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Years of ownership of copyright

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Years of ownership of copyright

  • This topic has 4 replies, 2 voices, and was last updated 1 year ago by alawi sayed.
Viewing 5 posts - 1 through 5 (of 5 total)
  • Author
    Posts
  • July 13, 2024 at 9:59 pm #708328
    alawi sayed
    Participant
    • Topics: 304
    • Replies: 354
    • ☆☆☆☆

    Hello Jilly,

    Why for the following question about chargeable gains the no of ownership years of the copy right is 9 years not 6 years ?

    Thanks,

    On 31 March 2024, Jessica sold a copyright for £28,800. The copyright had been purchased on 1 April 2018 for £21,000 when it had an unexpired life of 15 years.

    What is Jessica’s chargeable gain in respect of the disposal of the copyright?

    A.£0
    B.£20,400
    C.£16,200
    D.£7,800

    The correct answer is C.

    28,800 -(21,000 × 9/15) = £16,200

    July 15, 2024 at 5:13 pm #708505
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    !5 years in total – 6 used up by ownership – 9 years left

    July 24, 2024 at 1:29 pm #708821
    alawi sayed
    Participant
    • Topics: 304
    • Replies: 354
    • ☆☆☆☆

    Hi,

    So the chargeable gains for the copyright will be based on the remaining years?

    and why?

    Thanks,

    July 29, 2024 at 1:29 pm #708957
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    Thats the rule

    July 30, 2024 at 1:27 pm #708990
    alawi sayed
    Participant
    • Topics: 304
    • Replies: 354
    • ☆☆☆☆

    Thanks.

  • Author
    Posts
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