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Corporation tax chapter 18 Example 1

This topic has 1 reply, 2 voices, and was last updated 8 months ago by JillyB.

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September 2, 2024 at 11:04 am #710636
Rezaul-rk7
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Hello Ma’am,
Could you please check the answer of Example 1 from Chapter 18, UK TX FA-2023 again because I am bit confuse regarding new rules?
In the calculation, it was multiplying the (cost * 1.706) as it was already deducted the cost before, so it should multiply (cost *0.706) which is the excess of index cost.
September 14, 2024 at 4:56 pm #711492
JillyB
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First you dedcut the cost/enhancement from the sales proceeds and THEn you dedcut the Indexation allowances using the dates in the question to calcultae it
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