PTAX HELP :(
JoshhSwFc
Registered Posts: 9
Joyce bought an asset in April 2002 for £105,000 and sold it in November 2015 for £148,600. Joyce paid auctioneer's commission of 7.5% when she bought the asset and auctioneer's fees of 10% on the sale value of the asset.
What is the gain arising from the disposal of this asset?
the answer is £20,865.. how is it calculated?
It may be really simple but my heads fried at the minute.
Cheers
What is the gain arising from the disposal of this asset?
the answer is £20,865.. how is it calculated?
It may be really simple but my heads fried at the minute.
Cheers
0
Comments
-
Proceeds = 148,600
Less Auctioneers fees = 148,600 x 10% = 14, 860
Net proceeds = 133,740
Cost= 105,000
Add commission 7.5% x 105,000 = 7,875
Total cost = 112,875
Gain = 133,740 - 112,875 = 20,8650 -
ahh thanks so much, i was getting confused on which fees to add and take off!0
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