ACCA TX ^UK Syllabus C. Chargable Gains For Individuals - Chattels and wasting assets - Past Papers ^{1 / 2}

Jerome made the following gifts to family members during the tax year 2014–15:

(3) On 7 November 2014, Jerome made a gift of an antique bracelet valued at £12,200 to his granddaughter. The antique bracelet had been purchased on 1 September 2001 for £2,100.

Required:
(a) Calculate Jerome’s chargeable gains for the tax year 2014–15.
Note: You should ignore inheritance tax. (7 marks)