• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Free ACCA & CIMA online courses from OpenTuition

Free ACCA & CIMA online courses from OpenTuition

Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams

  • ACCA
  • CIMA
  • FIA
  • OBU
  • Books
  • Forums
  • Search
  • Register
  • Login
  • ACCA Forums
  • Ask ACCA Tutor
  • CIMA Forums
  • Ask CIMA Tutor
  • FIA
  • OBU
  • Buy/Sell Books
  • All Forums
  • Latest Topics

Congratulations to Jamil from Pakistan and Jeeva from Malaysia - Global Prize winners!
see all ACCA December 2022 Genius Hunt Competition winners >>

Specially for OpenTuition students: 20% off BPP Books for ACCA & CIMA exams – Get your BPP Discount Code >>

165:Micheal Chin (Kap)

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › 165:Micheal Chin (Kap)

  • This topic has 3 replies, 2 voices, and was last updated 11 months ago by Tax Tutor.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • February 17, 2022 at 5:49 am #648743
    Sourav9271
    Participant
    • Topics: 166
    • Replies: 118
    • ☆☆☆

    Sir,
    The goodwill and freehold property were
    Not owned 2 yrs prior..
    So why is disposal qualified fir BAD-R

    Ques:
    On 30 June 2020 Michael sold a business that he had run as a sole trader since 1st January 2016. He realised the following gains and losses on the chargeable assets of
    the business:

    Goodwill 60,000  
    Freehold property 64,000  
    Storage unit (13,000)

    The goodwill has been built up since 1 January 2016. The freehold property had been
    acquired 6 months prior to the date of disposal and the storage unit had been acquired
    on 1 June 2017.

    February 18, 2022 at 4:39 pm #648879
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Can you send me a picture of the Kaplan answer please

    February 19, 2022 at 7:17 am #648892
    Sourav9271
    Participant
    • Topics: 166
    • Replies: 118
    • ☆☆☆

    https://photos.app.goo.gl/QKBc4QRoKsdTG4pSA

    Sir,
    Can I conclude that since entire business is being disposed the date of incorporation matters?

    February 20, 2022 at 11:56 am #648967
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    There is no incorporation – this is an unincorporated trade and as I suspected the Kaplan answer does answer your question – read the tutorial note!

  • Author
    Posts
Viewing 4 posts - 1 through 4 (of 4 total)
  • You must be logged in to reply to this topic.
Log In

Primary Sidebar

ACCA News:

 

ACCA My Exam Performance for non-variant Applied Skills exams is available NOW

NEW! Download the ACCA Pass Guide

FREE Verifiable CPD for ACCA Members

ACCA mock exams and debrief videos

ACCA Options:  “Read the Mind of the Marker” articles

Subscribe to ACCA’s Student Accountant Direct

Donate

If you have benefited from OpenTuition please donate.

ACCA CBE 2023 Exams

Instant Poll * How was your exam, and what was the result?

BT CBE exam was.. | MA CBE exam was..
FA CBE exam was.. | LW CBE exam was..

Specially for OpenTuition students

20% off BPP Books

Get BPP Discount Code

Latest comments

  • Amalsudheesh on FA Chapter 6 Questions Depreciation
  • John Moffat on FA Chapter 6 Questions Depreciation
  • John Moffat on PM Chapter 7 Questions Pricing
  • Amalsudheesh on FA Chapter 6 Questions Depreciation
  • roshpatel on PM Chapter 7 Questions Pricing

Copyright © 2023 · Support · Contact · Advertising · OpenLicense · About · Sitemap · Comments · Log in


We use cookies to show you relevant advertising, find out more: Privacy Policy · Cookie Policy