Taxation

Peter is the controlling shareholder and the managing director of WBS Ltd, a trading company that provides support services to the oil industry. Peter is a higher tax ratepayer.
Peter disposed of the following assets during the tax year 2013-14:
(1) On 8 April 2013, Peter sold five acres of land to WBS Ltd for £260,000, which was the market value of the land on that date. Peter, had inherited the land upon the death of her mother on 17 January 2003, when the land was valued at £182,000. Peter’s mother had originally purchased the land for £137,000.
(2) On 13 August 2013, Peter made a gift of 5,000 £1 ordinary shares in Oily plc, a quoted trading company, to her sister. On that date the shares were quoted on the Stock Exchange at £7•40–£7•56, with recorded bargains of £7•36, £7•38 and £7•60.
Peter had originally purchased 1,000 shares in Greasy plc on 8 July 2006 for £18,200. On 23 November 2006, Greasy plc was acquired by Oily plc. Peter received five £1 ordinary shares and two £1 preference shares in Oily plc for each £1 ordinary share held in Greasy plc. Immediately after the takeover each £1 ordinary share in Oily plc was quoted at £3•50 and each £1 preference share was quoted at £1•25.
Entrepreneurs’ relief and holdover relief are not available in respect of this disposal.
(3) On 22 March 2014, Peter sold 40,000 £1 ordinary shares in WBS Ltd for £280,000. He had originally purchased 125,000 shares in the company on 8 June 2008 for £142,000, and had purchased a further 60,000 shares on 23 May 2010 for £117,000. WBS Ltd has a total share capital of 250,000 £1 ordinary shares. Peter has made no previous disposals eligible for entrepreneurs’ relief.
WBS Ltd
On 20 Dec 2013, WBS Ltd sold two of the five acres of land that had been purchased from Peter on 8 April 2013. The sale proceeds were £162,000 and legal fees of £3,800 were incurred in connection with the disposal.
The market value of the unsold three acres of land as at 20 March 2014 was £254,000. During April 2013, WBS Ltd had spent £31,200 levelling the five acres of land. The relevant retail price indexes
(RPIs) are as follows:
April 2013 211•5
December 2013 218•0
WBS Ltd’s only other income for the year ended 31 March 2014 was a trading profit of £563,000.

Required:
a) Calculate Peter’s capital gains tax liability for the tax year 2013-14 and state the date by when the tax is due.
b) Calculate WBS Ltd’s corporation tax liability for the year ended 31 March 2014, and state the date by when the tax is due.
You can ignore entrepreneur’s relief.