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Jerome made the following gifts to family members during the tax year 2014–15: (1) On 28 May 2014, Jerome made a gift of a house valued at £187,000 to his wife. Jerome’s uncle had originally purchased the house on 14 July 1995 for £45,900. The uncle died on 12 June 2004, and the house was inherited by Jerome. On that date, the house was valued at £112,800. Jerome has never occupied the house as his main residence. (2) On 24 June 2014, Jerome made a gift of his entire 12% holding of 12,000 £1 ordinary shares in Reward Ltd, an unquoted trading company, to his son. The market value of the shares on that date was £98,400. The shares had been purchased on 15 March 2006 for £39,000. On 24 June 2014, the market value of Reward Ltd’s chargeable assets was £540,000, of which £460,000 was in respect of chargeable business assets. Jerome and his son have elected to hold over the gain on this gift of a business asset. (3) On 7 November 2014, Jerome made a gift of an antique bracelet valued at £12,200 to his granddaughter. The antique bracelet had been purchased on 1 September 2001 for £2,100. (4) On 29 January 2015, Jerome made a gift of nine acres of land valued at £78,400 to his brother. He had originally purchased ten acres of land on 3 November 2005 for £37,800. The market value of the unsold acre of land as at 29 January 2015 was £33,600. The land has never been used for business purposes. Required: (a) Calculate Jerome’s chargeable gains for the tax year 2014–15. Note: You should ignore inheritance tax. (7 marks) (b) For each of the four recipients of assets (1) to (4) gifted from Jerome, state their respective base cost for capital gains tax purposes. (3 marks)