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Anders is 72 years old and is employed by PWMG as a part-time advisor on corporate...

Anders is 72 years old and is employed by PWMG as a part-time advisor on corporate restructuring. During the tax year 2017/18, Anders made a number of disposals. Which of the following disposals (i.e. sales) would be exempt from capital gains tax in 2017/18?

a. Sale of a painting for £15,000. Anders inherited the painting 20 years ago.

b. Sale of shares in an unquoted trading company. The shares were sold for £25,000.

c. Sale of a house for £475,000. The house was Anders’s principal private residence.

d. Sale of National Savings Certificates. The Certificates were sold for £20,000.

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Answer #1

A) taxable

Art and sculpture and painting also includes in the definition of capital asset.

B) taxable

C) exempt

If he invest amount in another residential house as per 54b or investment in specified bonds

D) exempt

Nsc bonds are tax savings instruments so sale of them not taxable

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