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Part disposals, chattels, non chattel wasting assets - ACCA Taxation (TX-UK)

VIVA Subject Guide
YouTube video
The FA 2018 lecture is used here. The differences between the FA 2018 Study Notes used in the lectures and those you are using for FA 2019 are as follows:  Example 1 – change in dates of purchase and sale but no change to answer as same indexation factor used from date of acquisition to December 2017 Example 2 – as per example 1 with changes in dates of acquisition and disposal but no change in answer as same indexation factors used from date of acquisition to December 2017 Example 3 – change in date of disposal but no change in answer as it is the same indexation factor from date of acquisition to December 2017

2 Comments

  1. luminita1981
    the purchase year of the asset should be amended to read 2009 if you wanted to keep the same answer, as based on the actual notes, the period of ownership is 14 years
  2. missmeadows
    Example 3 - Question in study notes reads - sold asset in March 2021. This would mean the period of ownership would be 14 years not 12 years. 14/30 x (25000-1000) = 11,200.
    Proceeds: 38,000
    Cost: 13,800 (25,000-11,200)
    Less IA: 6,017 (13,800 x 0.436)
    Gain: 18,183

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