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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Years of ownership of copyright
Hello Jilly,
Why for the following question about chargeable gains the no of ownership years of the copy right is 9 years not 6 years ?
Thanks,
On 31 March 2024, Jessica sold a copyright for £28,800. The copyright had been purchased on 1 April 2018 for £21,000 when it had an unexpired life of 15 years.
What is Jessica’s chargeable gain in respect of the disposal of the copyright?
A.£0
B.£20,400
C.£16,200
D.£7,800
The correct answer is C.
28,800 -(21,000 × 9/15) = £16,200
!5 years in total – 6 used up by ownership – 9 years left
Hi,
So the chargeable gains for the copyright will be based on the remaining years?
and why?
Thanks,
Thats the rule
Thanks.