[vimiii]

Understood Sir 🙂

[vimiii]

Really sorry Sir, i didn’t realise that. Thank you. You just taught me a lesson on Ethics 🙂

Actually i do have the BPP Revision Kit.(just copied it so that i don’t have to type)

Regarding the question Sir, is my understanding as per below correct?
Do we have to take 4000 and 7000 because they exceed the $2m limit?

$
Period 1 (60% x 4000=2400)> 2000 limit 4000
Period 2 (30% x 7000=2100)> 2000 limit 7000
Total 11000
Overdrawn (500)
10500

Would it have been correct if i had deducted the $500 from the $4000? Or should it be deducted from the Total? (the value would still exceed $2000 limit)

Had there been $3800 instead of $4000 (60% x 3800=2280)>2000 limit

But if i had deducted the $500,then (60% x (3800-500)=1980)<2000 limit

Please clarify Sir.

Thank you very much.

[vimiii]

I do not know the answer that is provided Sir. I found the question in a lecture note from local tutor, no answer given.

My answer is B.

Chargeable gains 9000
-Capital loss in tax year (6000)
Net Capital Gains 3000

But Sir, what i am not understanding is the annual exemption. If the annual exempt amount is not used, then it is wasted.

Can you please explain also explain the use of Annual Exemtion here?

[Author]

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