You should assume that today’s date is 1 March 2015.

(a) On 27 August 2014, Ruby disposed of an investment property, and this resulted in a chargeable gain of £45,800.

For the tax year 2014–15, Ruby has taxable income of £17,600.

Required:
Calculate Ruby’s capital gains tax liability for the tax year 2014–15 if this is her only disposal in that tax year. (2 marks)

Note: 
Basic rate band in 2015: £31,865
Annual Exempt amount was: £11,000