(ii) Advise Andrew of the tax implications arising from the disposal of the 7% Government

(ii) Advise Andrew of the tax implications arising from the disposal of the 7% Government Stock, clearly

identifying the tax year in which any liability will arise and how it will be paid. (3 marks)

参考答案:

(ii) Government stock is an exempt asset for the purposes of capital gains tax, however, as Andrew’s holding has a nominalvalue in excess of ￡5,000, a charge to income tax will arise under the accrued income scheme. This charge to incometax will arise in

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(ii) Advise Andrew of the tax implications arising from the disposal of the 7% Government

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