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Hello Sir,
This is from opentuition lecture notes, Chapter 14, example 2.
Anne sold her shareholding in Annie limited for £500,000 in 2020/21. The shares had cost her £50,000 in July
1991. She owned 100% of the shares in Annie Limited and had been a full time director since the date of
acquisition. She had not previously made any disposals qualifying for business asset disposal relief.
In addition she sold an antique painting realising a capital gain of £100,000.
Anne had capital losses brought forward of £25,000 from 2019/20 and her taxable income for 2020/21 was
£18,000
In answer of this question, why they didn’t make use of unused basic band with the capital gain from panting first. It would have saved more tax liability.
The first point in section 1.4 of the Study Notes that immediately precede this example explain this exact point along with the explanation in the lecture