Diana bought shares of "OMEGA PLC" (a listed company in the London Stock

Exchange) as follows:

? 8 December 2008, 6,000 shares, at a cost of 9.00 per share

? 17 January 2010, 4,000 shares, at a cost of 10.50 per share

? 27 April 2013, 5,000 shares, at cost of 13.00 per share

? 30 August 2015, 3,000 shares, at a cost of 15.00 per share

? 18 September 2020, 5,000 shares, at a cost of 18.00 per share

? 8 October 2020, 7,000 shares, at a cost of 20.00 per share

Diana sold some of the shares of the same company during the last tax year as follows:

? 12 September 2020, 2,000 shares, at a sale price of 15.00 per share

? 18 September 2020, 1,000 shares, at a sale price of 16.00 per share

? 22 September 2020, 3,000 shares, at a sale price of 19.00 per share

? 1 October 2020, 9,000 shares, at a sale price of 19.00 per share

Tasks:

(i) Calculate the Capital Gains for Diana from the sale of shares during tax year

2020.

(ii) Calculate the Capital Gains Tax (CGT) that Diana will have to pay for tax year

2020, assuming that her annual taxable income for the same year is 40,000.

TAX RATES AND ALLOWANCES The following tax rates and allowances are to be used in answering the questions. INCOME TAX RATES TAX YEAR 2020 Tax Rates Tax Rates Non-Savings Savings Dividends for Dividends 0% X (N/A) 1-5,000 E X (N/A) N/A 20% 1-37,500 E 5,001-37,500 E 1-37,500 E 7,5% 40% 37,501-150,000 E 32,5% 45% 150,001 E +and over 38,1% Personal allowance for persons until 65 years old: 12,500 E Income limit for personal allowance: 100,000 E Personal Savings Allowance: up to 1,000 E Dividend allowance: 2,000 f CAPITAL GAINS TAX RATES TAX YEAR 2020 Lower tax rate 10% or 18% Higher tax rate 20% or 28% Annual Exempt Amount 12,000 E INHERITANCE TAX RATES TAX YEAR 2020: 1-325,000 E Nil Excess - Tax rate in case of death 40% Excess - Tax rate in case of lifetime transfer 20%