GRILFTTH COLLEGE BUR MAEVE a) In February 1997 Maeve bo ught 3,000 shares in a p
ID: 2542208 • Letter: G
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GRILFTTH COLLEGE BUR MAEVE a) In February 1997 Maeve bo ught 3,000 shares in a pharmaceutical company The shares were valued at 63 each In December 2000 the company made a bonus issue o f 1 for every 2 shares held. In July 2001, Maeve bought a further 700 shares in the compa In November 2003 Maeve sold 550 shares for 4,000 to pay for a Christmas skiing holiday In March 2009 the company made a rights issue of I for 5 shares held at e6.80 per share. Maeve took up her full rights. In November 2017 Maeve sold 1,000 shares for 7 each. Calculate: ) The number of shares remaining after the November 2017 sale. (4 marks) (i) The CGT due by Maeve following the November 2017 share sale. Gi) State the date for payment of the tax calculated. (5 marks) (1 mark) MICHELLE 0 aach. The shExplanation / Answer
(1) Shares remaining after Nov. 17 sale is 4580
3000+1500+700-550+930-1000
(2) CGT of Nov 2017 sale CGT on value 1000*7 -1000*3 i.e purchases price
CGT due - assuming UK - as not in question - Tax is 4000 (7000-3000) *10% ie 400
(3) Due date is 31.01.2018
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