- This topic has 1 reply, 2 voices, and was last updated 6 years ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
Hi Professor,
For Practice Question 34 – Jeremy
I took the warehouse lose from non – ER assets as it is taxed at a higher rate and got a CGT of 50,240.
The Answer took the warehouse lose for ER assets and got CGT of 55,240.
Can you please advise if there is a reason I have to take it from ER assets?
Firstly my apologies for delay in reply and though thank you for the esteemed title I am just a Chartered Accountant and lecturer!
I understand what you are trying to do with the loss on the warehouse and it is of course what we would like to do BUT we must first net off a loss on the disposal of one of the business assets against gains made on the other business assets
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.