Mick Stone disposed of the following assets during the tax year 2013–14:

(1) On 19 May 2013, Mick sold a freehold warehouse for £522,000. The warehouse was purchased on 6 August 2001 for £258,000, and was extended at a cost of £99,000 during April 2003. In January 2007, 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 the business’s requirements as a result of Mick purchasing a newly built warehouse during 2012. Both warehouses have always been used for business purposes in a wholesale business run by Mick as a sole trader.

(2) On 12 August 2013, Mick sold an acre of land for £81,700. He had originally purchased five acres of land on 19 May 1998 for £167,400. The market value of the unsold four acres of land as at 12 August 2013 was £268,000. The land has never been used for business purposes.

(3) On 24 September 2013, Mick sold 700,000 £1 ordinary shares in Rolling Ltd, an unquoted trading company, for £3,675,000. He had originally purchased 500,000 shares in Rolling Ltd on 2 June 2005 for £960,000. On 1 December 2010, Rolling Ltd made a 3 for 2 bonus issue. Mick has been a director of Rolling Ltd since 1 January 2005.

(4) On 19 January 2014, Mick made a gift of his entire holding of 24,000 £1 ordinary shares in Sugar plc, a quoted investment company, to his son, Keith. On that date the shares were quoted on the Stock Exchange at £6·98–£7·10, with recorded bargains of £6·85, £6·90, £7·00 and £7·05. The shares had been purchased on 8 May 2008 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:
(b) State which capital gains tax reliefs might be available to Mick Stone in respect of each of his disposals during the tax year 2013–14, and what further information you would require in order to establish if the reliefs are actually available and to establish any restrictions as regards the amount of relief.

Note: For this part of the question you are not expected to perform any calculations. (6 marks)