PCC Ltd is a manufacturing company which prepares accounts to 31 December each year.

The company made the following disposals of chargeable assets in the year to 31 December 2020:

(i) On 12 September 2020, 7,500 ordinary shares in Epsilon plc were sold for £9.50 each. PCC Ltd had bought ordinary shares in Epsilon plc as follows:

The shares had a market value on 31 March 1982 of £2.50 per share.

(ii) On 9 October 2020, two water colour paintings (which do not form a set) were sold at auction. In each case, the auctioneer charged a 10% commission. The paintings had been acquired for £2,000 each in September 2002 and had been hanging in the company's reception area ever since. The net sale proceeds of the paintings (after deducting commission) were £5,175 and £5,805 respectively.

(iii) On 1 June 2020, a short lease was assigned for £7,000. The lease was originally acquired as a 20-year lease on 1 January 2006 at a cost of £20,000.

(iv) On 25 November 2020, a freehold property was sold for £115,000. The building had been acquired in August 2004 for £50,000. In February 2020 the company bought fixed plant for £100,000.

PCC Ltd has not made (and does not intend to make) a "re-basing" election to the effect that assets acquired before 31 March 1982 should be treated as if acquired on 31 March 1982 at a cost equal to their market value on that date. However, the company does intend to make any other election which will reduce the amount of gains chargeable to corporation tax in the year to 31 December 2020.

On 1 January 2020, the company had capital losses brought forward of £7,063.

Required:

Compute the chargeable gain or allowable loss arising on each of the above disposals.

Hence compute the net chargeable gains figure which should be charged to corporation tax for the year to 31 December 2020. Assume Retail Price Indices as follows:

Extracts from the short lease amortisation table given in Schedule 8 of the Taxation of Chargeable Gains Act 1992 are as follows:

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14 January 1981 27 June 1991 10 March 2001 Bought 2,000 shares Bought 3,000 shares Bought 4,000 shares 4,000 15,000 28,000