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If a person sells his business for 200000 to be received in cash and the only chargeable asset of his business is goodwill the value of which has increased over a number of years to 150000 and the goodwill has a nil cost then what will be the chargeable gain.
I calculated the chargeable gain to be 200000 because it is the amount of the sale proceeds and the purchase cost of the business is not given but this is incorrect. I don’t understand why
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