On 1 April 1987, Henry Applegate purchased 2,000 shares in RSC Ltd for $4.25 per share. On 1 June 1993 he also purchased 1,000 shares in PHB at a…
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On 1 April 1987, Henry Applegate purchased 2,000 shares in RSC Ltd for $4.25 per share. On 1 June 1993 he also purchased 1,000 shares in PHB at a cost of $14 per share. In order to purchase a flat, Henry sold some of his shares on 2 December 2015 at the following prices:
1,000 RSC $8 per share
500 PHB $13 per share
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Advise Henry Applegate of the capital gains tax consequences of the share sales for the 2015/16 tax year. Set your answer out in a table.
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