Accounting · Capital Gains Tax
Hunter purchased 50,000 shares in Grayson Ltd for £90,000 on 30 May 2013. On 1 November 2024, Grayson Ltd was taken over by Riley plc. Grayson Ltd shareholders received £3 cash and 2 Riley plc ordinary £1 shares for every Grayson Ltd share held. Immediately after the takeover, Riley plc shares were worth £1.20 each. What is Hunter's chargeable gain as a result of this takeover?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1£100,003
- 2£100,002
- 3£100,001
- 4£100,000✓
Correct answer
£100,000
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