... Taxation Capital Gain on Sale of Boston Manor Plc Shares If one owned shares at 31st March of 1982, the market value of the shares on that day is employed in calculating the cost of the shares (HMRC.com, 2013). Bob and Isobel were holding shares at Boston Manor plc on 31st March of 1982. Thus, the cost of the shares and capital gain of the shares Bob and Isobel intends to sell is as computed below.
Number of shares = 8,000
Market value of share on 31.3.82 = £1.50
Cost of the shares = 8,000 * £1.50 = £12,000
Selling value of the shares = £80,000
Capital gain = £80,000 - £12,000 = £68,000
Thus, the capital gain tax payable that Bob and Isobel should expect from the sale of the shares is £68,000. Owing ...