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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Base cost – Chargeable gains
Hi,
With respect to chargeable gains, what exactly is meant by ‘base cost’ please? Is this referring to the amount that can actually be relieved?
Thanks!
After working some more questions regarding the above question; is it referring to the difference between the consideration/sale proceeds and the amount relieved?
Thanks!
The term is sometimes used to describe the allowable cost to deduct from the net proceeds of the asset
Thank you!