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F6 CGT Question Alice Lim

Forums › ACCA Forums › General ACCA Forums › F6 CGT Question Alice Lim

  • This topic has 0 replies, 1 voice, and was last updated 12 years ago by Avatarfaizi95.
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  • May 16, 2014 at 6:01 am #168990
    Avatarfaizi95
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    • Topics: 12
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    On 27 february 2013 Alice sold 40000 pound 1 ordinary shares (a 40% shareholding) in family ltd, an unquoted company, for pound 230000.Alice had acquired the shares on 21 may 2012 when she purchased them from her mother for pound 120000.
    Alice mother had originally purchased the shares on 19 december 2003 for pound 128000.
    Alice and her mother elected to holdover the gain arising on 21may 2012 as a gift of business asset. The market value of shares on that was pound 168000.

    Calculate chargeable gain and amount of gift relief ?

    in this question im getting problem is that the original cost is greater than consideration as paid by Alice so how to solve this question im confused . i will be thankful for help .

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