Yu Yan Zhang is aged 60 She is married and is resident and domiciled in Ireland She completed the following transactions during the tax year 2018 On 1 June 2018, she sold her retail business to an unrelated third party for 480,000 She originally bought it for 100,000 in January 1988 and has operated the business since then as a selfemployed individual She gifted a painting to her husband on 1 May 2018 The current market value of the painting is 100,000 and she bought it in July 1989 for 10,000 She sold an investment property on 1 June 2018 for 450,000 Auctioneers fees were 7,500 She originally acquired the property by gift on 1 January 2004 from her husband Its market value at that date was 250,000 Her husband had originally acquired it on 1 February 2000 at a cost of 180,000 She transferred, as a gift, a holiday home to her son, Chen, on 2 June 2018 Its market value on that date was 180,000 She had originally bought it in July 1999 for 200,000 but it had fallen in value due to coastal erosion in the locality in which it is situated She sold antique jewelry for 4,400 on 1 July 2018 It had originally cost 400 in June 1995 She sold quoted shares for 23,400 on 10 July 2018 She had originally acquired the shares for 25,000 in January 1971 Their market value at 6 April 1974 was 3,000 Yu Yan sold an advertising billboard site for 17,500 on 1 August 2018 She had originally acquired it for 5,000 in January 2001 At that time, it was regarded as development land with a current use value of 2,000 On 1 August 2018, 8,000 of the sale price reflected current use value and the balance of the sale proceeds reflected a development premium 8 Yu Yan sold 6,000 ordinary shares in AB Limited at 60 each on 1 October 2018 She had originally acquired 4,000 ordinary shares in July 1989 for 8,000 On 1 July 1992, she bought a further 8,000 ordinary shares for 20,000 On 1 June 1998 AB Limited made a rights issue, which Yu Yan fully availed of, of one additional share for every four held, at a price of 12 per share issued At 1 January 2018, Yu Yan had unused capital losses of 30,000, which related to the sale a property in 2015 Required Calculate Yu Yan Zhangs capital gains tax liability for 2018 Note Please show all workings and explain any reliefs claimed

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Yu Yan Zhang is aged 60. She is married and is resident and domiciled in Ireland. She completed the following transactions during the tax year

Yu Yan Zhang is aged 60. She is married and is resident and domiciled in Ireland. She completed the following transactions during the tax year 2018:

On 1 June 2018, she sold her retail business to an unrelated third party for 480,000. She originally bought it for 100,000 in January 1988 and has operated the business since then as a selfemployed individual.
She gifted a painting to her husband on 1 May 2018. The current market value of the painting is 100,000 and she bought it in July 1989 for 10,000.
She sold an investment property on 1 June 2018 for 450,000. Auctioneers fees were 7,500. She originally acquired the property by gift on 1 January 2004 from her husband. Its market value at that date was 250,000. Her husband had originally acquired it on 1 February 2000 at a cost of 180,000.
She transferred, as a gift, a holiday home to her son, Chen, on 2 June 2018. Its market value on that date was 180,000. She had originally bought it in July 1999 for 200,000 but it had fallen in value due to coastal erosion in the locality in which it is situated.
She sold antique jewelry for 4,400 on 1 July 2018. It had originally cost 400 in June 1995.
She sold quoted shares for 23,400 on 10 July 2018. She had originally acquired the shares for 25,000 in January 1971. Their market value at 6 April 1974 was 3,000.
Yu Yan sold an advertising billboard site for 17,500 on 1 August 2018. She had originally acquired it for 5,000 in January 2001. At that time, it was regarded as development land with a current use value of 2,000. On 1 August 2018, 8,000 of the sale price reflected current use value and the balance of the sale proceeds reflected a development premium.
8. Yu Yan sold 6,000 ordinary shares in AB Limited at 60 each on 1 October 2018. She had originally acquired 4,000 ordinary shares in July 1989 for 8,000. On 1 July 1992, she bought a further 8,000 ordinary shares for 20,000. On 1 June 1998 AB Limited made a rights issue, which Yu Yan fully availed of, of one additional share for every four held, at a price of 12 per share issued.

At 1 January 2018, Yu Yan had unused capital losses of 30,000, which related to the sale a property in 2015.Required:
Calculate Yu Yan Zhangs capital gains tax liability for 2018. Note: Please show all workings and explain any reliefs claimed.