Part A:
Breda incorporated her business on the 1st of January 2023. Her company, Clarke Limited has a 12-month accounting period which will end on the 31st of December 2023.
Part B
Breda’s husband, Steve, purchased development land on the 15th of December 1976 for €50,000. The current use value of the land on the 15th of December 1976 was €10,000. Steve sold this land on the 20th of May 2023 for €450,000.