Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Page 122 of OpenTuition Notes
- This topic has 3 replies, 3 voices, and was last updated 6 months ago by JillyB.
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- April 26, 2024 at 2:17 am #704557
In section 6.5 Sale at undervalue, where the calculation is explained: Has there been a mistake in writing out the signs for greater than (>) and less than (<)? Because in the lecture you said the opposite of what is in the notes so I wonder which one is correct
May 6, 2024 at 12:16 pm #705006is this the bullet points?
The manual is correct – I’m afraid I always get the greater/less than the wrong way round – I just cant get it into my head after all these years – sorry!
May 10, 2024 at 7:11 am #705190So this is the correct format right?
If the actual proceeds received LESS THAN EQUALS TO original cost of the asset:
– gift relief available = all of the gain (as if it were an outright gift)If the actual proceeds received GREATER THAN original cost of the asset:
– any excess = chargeable to CGT at the date of the sale at undervaluation
gift relief available = the remainder of the gain.May 12, 2024 at 3:12 pm #705287The manual is correct
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