Gift Relief Help.

Anika sold her entire holding of 3,000 £1 ordinary shares in Distribo Ltd, a trading company, to her son, Hemi, for £53,000 on 14 July 2015. The market value of the shares on that date was £98,000.

Anika had purchased the 3,000 shares on 28 October 2004 for £41,500. She has never worked for Distribo Ltd.

What amount of Gift Relief is Available?

The answer for Gift relief is £45,000, but I can’t understand why? could someone please explain this to me.

Thanks so much 🙂