Balancing charge

Balancing charge

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Client owned a piece of plant, a work boat used on the canal. Original cost £5000 many years ago, tax wdv NIL, proceeds £10,000. Am I correct in assuming the balancing charge is £5000 ?   what about the surplus over original cost ? CGT ?

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By johngroganjga
28th May 2015 15:48

Correct
Yes you are correct in both cases.

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