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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Capital gains tax relief- Individuals
Good Evening Jill. In example 3 of Capital gains tax relief for individuals, why are we not deducting AEA from the figure of 345000? The question says that another asset disposal has been made, but mentions only about a chargeable gain of 7000, from which the AEA is usually deducted according to the Pro forma to arrive at the taxable gain , but does not mention that it was used on that asset. So if it were used on the other asset wouldn’t the question say that the asset disposal gave rise to a taxable gain of 1000, which is arrived at after deducting 6000 AEA from the chargeable gain of 7000? So was the 6000 AEA actually used on the other asset? Am I missing out on some information?