Pescara requires advice on the capital gains tax due on a disposal of shares, together with the relief available in respect of the purchase of enterprise investment scheme shares.

Pescara’s actual and intended capital transactions in the tax year 2013/14:

Note: The cost for the shares sold on 15 November 2013 is £269,565

Required:
(b) (i) Calculate Pescara’s capital gains tax liability for the tax year 2013/14 on the assumption that enterprise investment scheme (EIS) relief is claimed in respect of the shares to be purchased on 1 April 2014 and that entrepreneurs’ relief is not available. (6 marks)