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Jason Arnold bought land for £100,000 in March 2004. In March 2010, this land was sold for £400,000 and replacement land was bought for £380,000. The replacement land was sold in May 2012 for £500,000. Both pieces of land were used in Jason Arnold's trade. What is the chargeable gain before the annual exempt amount arising in May 2012? Assume all available reliefs were claimed. Please input answer: £________ |