1. Explain whether the following transaction would give rise to a capital gain charge:

(a) Winnings from legal gambling

(b) Gains on disposal of copyright for a play by the Institute of Culture.

(c) Gains arising from damages to a warehouse building which contained goods for resale. The damage was so severe the building had to be demolished. A large sum of insurance proceeds was received.

(d) Gains on the disposal of shares in an unlisted company.

(e) Gain on disposal of an antique piece of furniture. Be sure to give the reason for your answer (2 marks each) (10 marks)

2. Explain three main reasons expenses may not be deductible for income tax/corporation tax purposes. (6 marks)