You should assume that today’s date is 1 March 2013.

(c) Innocent and Nigel, a married couple, both have shareholdings in Cinnamon Ltd, an unquoted trading company with a share capital of 100,000 £1 ordinary shares.

Innocent has been the managing director of Cinnamon Ltd since the company’s incorporation on 1 July 2004, and she currently holds 20,000 shares (with matching voting rights) in the company. These shares were subscribed for on 1 July 2004 at their par value.

Nigel has never been an employee or a director of Cinnamon Ltd, and he currently holds 3,000 shares (with matching voting rights) in the company. These shares were purchased on 23 April 2008 for £46,200.

Either Innocent or Nigel will sell 2,000 of their shares in Cinnamon Ltd during March 2013 for £65,000, but are not sure which of them should make the disposal. For the tax year 2012–13, both Innocent and Nigel have already made disposals which will fully utilise their annual exempt amounts, and they will each have taxable income of £80,000.

Required:
Calculate the capital gains tax saving if the disposal of 2,000 shares in Cinnamon Ltd during March 2013 is made by Innocent rather than Nigel. (6 marks)