On 28 August 2019, Roz sold 100% of the shares in her award-winning bakery, Rozs Cakes Ltd (a trading company), when they had a market value of 1,060,000. Roz had owned 100% of the shares and worked at the bakery since she bought the business in 2010 for 425,000. She incurred 2,100 further expense connected with transferring the shares and originally paid 1,350 for assistance to buy them in 2010. Roz is a higher rate taxpayer.

Required:

1. Calculate the capital gains tax liability on the transfer of the shares, assuming she has no other gains, and no reliefs are claimed.
2. Explain what relief Roz could claim to reduce her capital gains tax liability liability, and calculate the capital gains tax liability after applying the claim.