Mick Stone disposed of the following assets during tax year 2023-24:

(1) On 19 May 2023, Mick sold a freehold warehouse for £522,000. This warehouse was purchased on 6 August 2011 for £258,000, and was extended at a cost of £99,000 during April 2013. In January 2017, the floor of the warehouse was damaged by flooding and had to be replaced at a cost of £63,000. The warehouse was sold because it was surplus to requirements as a result of Mick purchasing a newly built warehouse during 2022. Both warehouses have always been used for business purposes in a wholesale business run by Mick as a sole trader.

(2) On 12 August 2023, Mick sold an acre of land for £81,700. He had originally purchased five acres of land on 19 May 2008 for £167,400. The market value of the unsold four acres of land as at 12 August 2023 was £268,000. The land has never been used for business purposes.

(3) On 24 September 2023, Mick sold 70,000 £1 ordinary shares in Rolling Ltd, an unquoted trading company, for £367,500. He had purchased 50,000 shares in the company on 2 June 2015 for £96,000.

On 1 June 2020, Rolling Ltd made a 3 for 2 bonus issue. Mick has been a director of Rolling Ltd since 1 January 2015.

(4) On 19 January 2024, Mick made a gift of his entire holding of 24,000 £1 ordinary shares in Sugar plc, a listed investment company, to his son, Keith. On that date the shares were quoted on the London Stock Exchange at 698p − 710p. The shares had been purchased on 8 May 2018 for £76,800. Mick’s shareholding was less than 1% of Sugar plc’s issued share capital, and he has never been an employee or a director of the company.

Required:

(a) Assuming that no reliefs are available, calculate the chargeable gain arising from each of Mick Stone’s asset disposals during the tax year 2023-24.

(b) State which capital gains tax reliefs might be available to Mick Stone in respect of each of his disposals during the tax year 2023-24, and what further information you would require in order to establish if those reliefs are actually available and to establish any restrictions as regards the amount of relief.