correct ✅ Belicek made a number of disposals during the tax year2016/17. Which one of the following disposals would bea chargeable disposal for capital gains tax purposes?A. Sale of a racehorse. The market value of theracehorse was 25,000 pounds, but Belicek agreed to aselling price of 24,000 pounds. The racehorse wasacquired by Belicek at a cost of 11,000 pounds.B. Gift to a friend of an antique vase worth 1,000,000pounds. The vase was acquired by Belicek at a cost of700,000 pounds.C. Gift to a charity of 32,000 pounds in National SavingsCertificates.D. Sale of Belicek's principal private residence.

Capital gains tax is a tax on the profit when you sell (or 'dispose of') something (an 'asset') that…

Answered: Belicek made a number of disposals…

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter13: Property Transactions: Determination Of Gain Or Loss, Basis Considerations, And Nonta Xable Exchanges

Section: Chapter Questions

Problem 58P

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