Question 4 Tricia had taxable income for 2022/23 of 54,000 and she made the following disposals in the year: i) ii) iii) iv) v) = vi) vii) In May 2022 she sold an oil painting for 45,000. She had bought the painting for 12,000 in June 2009 and had paid a further 5,500 on restoration costs. In June 2022 she sold part of a set of jewellery that was originally acquired in June 2012 for 9,000. She received proceeds of 21,000. The market value of the remaining jewellery was 39,000. She sold, in July 2022, a painting for proceeds of 4,800. Auctioneer's commission was 400. She had bought the painting in October of the previous year for 4,250. In August 2022 she sold an antique ornament for 7,000. She had bought the ornament for 4,700 in June 2005. In September 2022 she sold a painting for 4,100. She had acquired it for 10,500 in June 2017. In October 2022 she sold a car for 2,000. She had bought it in January 2016 for 18,000 and then spent 2,000 on improving it. In November 2022 she sold a copyright for 45,500. She had acquired the 25- year copyright in November 2012 for 30,00 Required: a) Calculate the capital gain or loss on each disposal and then calculate Tricia's liability to capital gains tax (CGT) for 2022/23. 19 marks b) Tricia's sister owns her own house and is thinking of moving elsewhere. Explain the tax rules whereby a period of absence from the principal private residence can be treated as deemed occupation for CGT purposes. 6 marks 5 (Total marks for question 4: 25 marks)