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Anika sold her entire holding of 3,000 £1 ordinary shares in Distribo Ltd, a trading company, to her son, Hemi, for £53,000 on 14 July 2015. The market value of the shares on that date was £98,000.
Anika had purchased the 3,000 shares on 28 October 2004 for £41,500. She has never worked for Distribo Ltd.
What amount of Gift Relief is Available?
The answer for Gift relief is £45,000, but I can’t understand why? could someone please explain this to me.
Thanks so much 🙂
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