Madam Elizabeth bought a set of trinkets consisting of earrings and bangles in November 2008 at an all-inclusive price of #1500. Due to a persistence cash flow problem in January 2010, she sold the earring to Mrs Bolaji at the price of #1200, again in November 2010 she sold the necklace to Mrs Bolaji at a price of #850. The market value of the unsold bangles is #2500.

Required: Compute capital gain tax payable and who is to pay it.