On 12 February 2013, Marlon sold a house for £497,000, which he had owned individually. The house had been purchased on 22 October 1997 for £146,000. Marlon incurred legal fees of £2,900 in connection with the purchase of the house, and legal fees of £3,700 in connection with the disposal.

Throughout the period of ownership the house was occupied by Marlon and his wife, Alvita, as their main residence. One-third of the house was always used exclusively for business purposes by the couple.

Entrepreneurs’ relief is not available in respect of this disposal.

For the tax year 2012–13 Marlon is a higher rate taxpayer, but Alvita did not have any taxable income. Neither of them has made any other disposals of assets during the year.

Required:
(ii) Calculate the amount of capital gains tax which could have been saved if Marlon had transferred 50% ownership of the house to Alvita prior to its disposal. (2 marks)