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Richard and Nigela Brook are a married couple. They disposed of the following assets during the tax year 2020/21: Jointly owned property: (i) On 29 July 2020, Richard and Nigela sold a classic Ferrari car for 34,400. The car had been purchased on 17th January 2004 for 27,200 (ii) On 30 September 2020, Richard and Nigela sold a house for 481,900. The house had been purchased on 1 October 1998 for 186,000. Richard and Nigela occupied the house as their main residence from the date of purchase until 31 March 2002. The house was then unoccupied between 1 April 2002 and 31st December 2005 due to Nigela being required by her employer to work elsewhere in the UK. From 1st January 2006 until 31 December 2016, Richard and Nigela again occupied the house as their main residence. The house was then unoccupied until it was sold on 30 September 2020. Richard Brook: (i) On 18 April 2020, Richard sold an antique table for 5,600. The antique table has been purchased on 27 May 2010 for 3,200. (ii) On 5 May 2020, Richard transferred his entire shareholding of 20,000 1 ordinary shares in Benz Ltd, an unquoted trading company to Nigela. On that date, the shares were valued at 50,000. Richards shareholding had been purchased on 21 June 2010 for 48,000. (iii) On 14 February 2021, Richard made a gift of 15,000 ordinary shares in Galactico plc to his son. On that date, the shares were quoted on the stock exchange at 2.80-3.20. Richard had originally purchased 7,000 shares in Galactico's Plc on 15th June 2011 for 16,600 and he purchased a further 13,000 shares on 24th August 2011 for 22,600. Richards total shareholding is less than 1% of Galactico's Plcs issued share capital. Nigela Brook: (i) On 5 May 2020, Nigela sold an antique cabinet for 7,000. The Antique cabinet had been purchased on 14 June 2009 for 3,700. (ii) On 7 July 2020, Nigela sold 15,000 of the 20,000 ordinary shares in Benz Ltd that had been transferred to her from Richard. The sale proceeds were 62,400. Richard has a taxable income of 30,000 and Nigela has a taxable income of 37,500 in the tax year 2020/21 Required: Compute Richard and Nigelas respective capital gain tax liabilities for the tax year 2020/21, and state the due date for payment.

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