Economics · Taxation
Wan ceased trading on 31 December 2024, having been self-employed and electing to use the accruals basis since 1 January 2009. On 1 January 2024, the tax written down value of her plant and machinery main pool was £6,200. On 10 November 2024, Wan purchased a computer for £1,600. All of the items incl uded in the main pool were sold for £9,800 on 31 Decembe r 2024. What is the balancing charge which will arise on the disposal of the main pool items upon the cessation of Wan's tr ade?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1£3,600
- 2£2,000✓
- 3£3,404
- 4£4,716
Correct answer
£2,000
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