Capital Gains Tax - Individuals (part 4) - ACCA Taxation (FA 2022) TX-UK lectures

[@faithokwelogu3106]

is it just me that finds it funny that Frodo and Gollum are in a civil partnership 😂😂 love that for them and the LOTR universe

[@tazmeennaeem2228]

To understand the Part Disposal - instead of memorizing the formula - think of it like this - The disposed of land was worth 16000 and the left over land was worth 34000 at the time of disposal - that is 50000 worth of land in total. (Its appreciated over time value). However, only 16000 worth of land is sold out of the 50000 worth land - i.e. 16000/50000 = 32% land is sold so we'd take 32% of the initial cost i.e. 32% of 26000 = 8320. [Meaning the this part of land was worth 8320 earlier while its worth 16000 now and so the gain in value is of 7680. You can ask yourself, what's the land worth in total at the time of disposal - its value of proceeds and the left over value. How much worth of land is sold? take the percentage and apply it to the cost, that's the cost figure you need!

[@waqashussain2310]

why do we not include any AEA for example 8 ?

[@ignasmaciunskas1494]

I believe because it's being transferred from partner to partner. However, I am not 100% sure.

[@kamranjatt4542]

She just calculated net chargeable gain , 12,300 exemption is applied after !

[@dorinakasa9051]

@@ignasmaciunskas1494 AEA can not be transferred