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june 2013 GINGER AND INNOCENT

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › june 2013 GINGER AND INNOCENT

  • This topic has 3 replies, 3 voices, and was last updated 6 years ago by Tax Tutor.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • March 7, 2016 at 6:11 pm #304157
    jingdong
    Participant
    • Topics: 89
    • Replies: 115
    • ☆☆☆

    Dear Tutor, in question b, Innocent and Nigel,
    Innicent makes disposal…………………………..Nigel makes disposal
    proceeds 65,000…………………………………………..65,000
    less: cost (2,000)…………………………………………..(30,800)
    gain 63,000………………………………………………….34,200
    CGT on £ 63,000 @ 10%………….CGT on £34,200 @28%
    6,300………………………………………………..9576
    why they didn’t exclude AE 11,000.
    many thanks

    March 8, 2016 at 10:14 am #304314
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    READ the question! The question states that they have both already made disposals fully using the AEA – it is therefore irrelevant to the decision being made!

    August 31, 2018 at 11:50 pm #470582
    eddielove1985
    Member
    • Topics: 0
    • Replies: 5
    • ☆

    Why is innocent taxed at 10 % and nigel taxed at 20 % when they both have taxable income of 80000.

    September 1, 2018 at 4:26 am #470589
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Check out the qualifying conditions for entrepreneurs’ relief!

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