entrepreneur relief question aat level 4 2016
Jamesw
Registered Posts: 2
in Business Tax
hi can somebody help me with this question please?
Ranjit sold a business in July 2012 and made a gain of £7,500000
in Feb 2017 sold another business making another gain £4,000000
Neither of these business are residential properties
Ranjit used her annual exemption on other capital disposals.
How much capital gains tax on the disposal Feb 17.
The answer is £550,000 but I dont understand how! can you help?
Ranjit sold a business in July 2012 and made a gain of £7,500000
in Feb 2017 sold another business making another gain £4,000000
Neither of these business are residential properties
Ranjit used her annual exemption on other capital disposals.
How much capital gains tax on the disposal Feb 17.
The answer is £550,000 but I dont understand how! can you help?
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Old transactions are relevant because the £10million relief has to cover your whole lifetime.0