(a) In November 2009, Yorick bought 6,000 ordinary shares in Togon plc for £30,000. In March 2021, the company went into liquidation and Yorick received a first distribution of £1 per share. The market value of an ordinary share in Togon plc just after this distribution was £2. Compute the allowable loss.

(b) In January 2013, Yolande bought 300 ordinary shares in Lippex plc. These shares cost £1.20 each. In May 2019, when shares in Lippex plc had a market value of £2 each, the company made a rights issue. Yolande sold her rights, realising £25.

Compute the chargeable gain arising in November 2020 when Yolande sold all of her shares for £780, assuming that no further shares were acquired within the following 30 days.