Tx notes fa22 Final

Compute the amounts of CGT payable in respect of 2022/23 stating what payments must be 
made and the dates by which they should be paid. 
Answer: 
As a residential property was sold on 31 October 2022 a payment on account will be required to be 
made by 30 November 2022 and will be computed as follows:
The additional CGT due by 31 January 2024 will be computed as follows:
Additional CGT liability = (10,696 + 4,500) – 13,776 = £1,420
You should now attempt Practice Questions 24 and 25


£
Residential property gain
67,500
Less:
Capital loss 8 July 2022
(6,000)
AEA 2022/23
(12,300)
Taxable gain
49,200
Taxed at 28%
13,776
£
£
Residential property gain
67,500
Other gains
22,500
Losses (6,000 + 11,000)
(17,000)
AEA 2022/23
(12,300)
Taxable gains
38,200
22,500
Taxed @ 28% / 20%
10,696
4,500

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Chapter 13
CAPITAL GAINS TAX – INDIVIDUALS 
– SHARES 
1. Shares and securities 
1.1. Gift edged securities and Qualifying Corporate Bonds
Disposal of these investments are exempt.
1.2. Disposal of shares - matching rules 
Where shares are disposed of a problem arises in computing the allowable cost as shares in a 
company may have been acquired over several acquisitions at di
ff
erent costs at di
ff
erent dates. 
Therefore HMRC have deemed that when shares in a company are disposed of, they are matched 
against acquisitions of shares in that company in the following order:
๏
Shares acquired on the same day (as the sale)
๏
Shares acquired within the 30 days following the sale
๏
Shares from the share pool