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Question 2a note v
Softapp Ltd is a software developer. The company’s summarised statement of profit or loss for the year ended 31 March 2013 is as follows:
| Note | £ | |
|---|---|---|
| Operating profit | 1 & 2 | 519,300 |
| Other income | ||
| Income from property | 3 | 36,700 |
| Loan interest receivable | 4 | 8,100 |
| Profit on disposal of shares | 5 | 64,900 |
| Finance costs | ||
| Interest payable | 6 | (67,200) |
| Profit before taxation | 561,800 |
Note 5 – Profit on disposal of shares
The profit on disposal of shares is in respect of the sale of Softapp Ltd’s entire (2%) shareholding in Networked plc on 28 February 2013. The disposal resulted in a chargeable gain of £61,300. This figure is after taking account of indexation.
Required:
(a) Compute capital gain on disposal of shares.