Practice Assessment 1 - Task 11

Javison4 Registered Posts: 3
edited March 2019 in Personal Tax

Just wondering if there has been a mistake made between Practice Assessment 1 - Task 11 for Personal Tax and the marking scheme.

Question: Assets sold, nothing to do with property in 18/19:

Donna, sold her asset with a market value of £23k, for £19k to her brother. It cost her £7,500. Her other taxable income is £32k.

Calculate the amount of Capital Gains Tax payable by Donna.
The marking scheme has the answer £510. how?

Is the correct answer not: 23k-7.5k = £15,500 - £11,700 = £3.8k * 0.1 = £380.00?


figured this out now... because the gain takes her into the next band.....
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