help tax

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
I am panicking about the shares! I allocates to oldest shares first is this incorrect?

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:help tax

    Shares post 5.4.98 are disposed last in first out basis.

    I think if you get the basis of the question you shouldnt get marked down too much. Thats what I was always told you only get marked down once on the error and they just use your answer for the rest of the paper.

    Hope this helps

    PM
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:help tax

    This is the order you allocate your shares

    1) Share that have bough on the day the share is sold

    2) Share that are bought 30 days after the share is sold

    3) Share that are bought after 5th April 1998 (on a LIFO basis)

    4) Share that are in the FA 1985 Pool

    Hope this helps

    Westcastle

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