Personal Tax PTX exam 2012 shares question
tanyamarie
Registered Posts: 5 Regular contributor ⭐
Could someone please advise the answer for the following question. As i am completly lost
thank you so much
Bought 2000 shares £4 each 31 oct 2006.
1 June 07 Bonus shares 1/20
sold 1200 for £10 per share 28/01/12
then bought 2000 shares £6 each 20/02/12
I put
2000 8000
100 0
3100 8000
(1000) 2581
remaining 2100
proceeds 100 x£10 = £12000
less (2581)
gain 9419
thank you so much
Bought 2000 shares £4 each 31 oct 2006.
1 June 07 Bonus shares 1/20
sold 1200 for £10 per share 28/01/12
then bought 2000 shares £6 each 20/02/12
I put
2000 8000
100 0
3100 8000
(1000) 2581
remaining 2100
proceeds 100 x£10 = £12000
less (2581)
gain 9419
0
Comments
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Hi tanyamarie
I am studying personal tax for 2012/13, but i will try and answer this one.
I would have put
2000 8000
100 0
2100 8000
800 4800 (matching rules)
2900 12800
proceeds 1200x10=12000
less 1200x6=7200
Gain 48000 -
Thanks. I see where I have gone wrong at the beginning. Where you have put 4800. Would this not be 8000x 800 divided by 2100 = 3048 ? Sorry if I have confused things.0
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no you simply have bought 800 more than you have sold at £6 which =48000
