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relief for the gift of business asset

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › relief for the gift of business asset

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by Tax Tutor.
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  • Author
    Posts
  • August 24, 2017 at 3:56 am #403248
    unaiza
    Participant
    • Topics: 37
    • Replies: 97
    • ☆☆

    Referring to the notes
    Chapter 14, topic 3, example 9

    Can you please explain the working 1
    As how we would come to know that £800,000 given in the question includes investment, premise & goodwill)

    August 26, 2017 at 4:23 am #403576
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    £800,000 is the market value of the shares as stated in the example – this represents the NET asset value of the company. You are then provided with a list of market values of the GROSS assets of the company to be able to compute the amount of gain eligible for gift relief using the
    CBA / CA fraction

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