You have been consulted by Mr Christopher Rodrigues on two matters relating to capital gains tax. Extracts from his letter to you are: 

"On 31 January 2024, I sold my shares in Fledgeby plc, a listed company. I had acquired them as follows:

I also took up a 1 for 4 rights issue at £3.50 per share on 31 May 2022. The shares were all sold for £38,000 on 31 January 2024 and I do not intend to buy any shares in the company in the future.

Also on 31 January 2024, I sold for £200,000 a plot of land that I had acquired in January 1991 for £10,000. A friend has told me that the gain might be either a capital gain or a trading profit. But, as capital gains and trading profits are both taxed, it doesn't really matter which way it is dealt with."

Required:

(a) Calculate the chargeable gain arising on the sale of the shares in Fledgeby plc.

(b) Do you agree with the statement of the other taxation practitioner? Draft brief notes that will form the basis of the letter that you will write to Mr Rodrigues.