corporation tax

(b) Eyes to Eyes Ltd sold the following assets during the year ended 31 March 2018:
(1) On 31 May 2016 Eyes to Eyes Ltd sold a freehold office building for £290,000. The office building
had been purchased on 15 July 1997 for £148,000. The retail price index (RPI) for July 1997 was
157.50, and for May 2017 it was 270.70.
Eyes to Eyes Ltd purchased a replacement freehold office building on 1 June 2017 for £260,000.
(2) On 30 November 2017 Eyes to Eyes Ltd sold 5,000 £1 ordinary shares in Backward plc for
£62,500. Eyes to Eyes Ltd had originally purchased 9,000 shares in Backward plc on 20 April 1991
for £18,000, and purchased a further 500 shares on 1 November 2017 for £6,500.
Assume the retail price index for April 1991 was 133.1, and for November 2017 was 274.9. Eyes to
Eyes Ltd has never owned more than 1% of the shares in Backward plc.
Eyes to Eyes Ltd purchased 10,000 £1 ordinary shares in Sideways plc on 1 December 2017 for
£65,000.
Where possible, Eyes to Eyes Ltd has claimed to roll over any gains arising.
Eyes to Eyes Ltd’s only other income for the year ended 31 March 2018 is its tax adjusted trading
profit of £78,000. There are no related 51% group companies.
Required:
Calculate Eyes to Eyes Ltd’s corporation tax liability for the year ended 31 March 2018, and
state by when this should be paid.
Your answer should clearly identify the amount of any gains that have been rolled over. Capital
allowances should be ignored.