Yes, ordinarily if I had all of the information I would have applied that formula. Unfortunately this transaction occurred before I took over doing the accounts and advice was not sought from the previous accountant so I am left with incomplete information.
Given the information I have, I don't think I have any other choice but to declare the full proceeds as the chargeable gain.
My answers
Yes, ordinarily if I had all of the information I would have applied that formula. Unfortunately this transaction occurred before I took over doing the accounts and advice was not sought from the previous accountant so I am left with incomplete information.
Given the information I have, I don't think I have any other choice but to declare the full proceeds as the chargeable gain.
Thank you, I thought the same but had a slight confidence crisis when asked the question.