Assume that today's date is 1 March 2024.

On 27 August 2023, Ruby sold an investment residential property and this resulted in a chargeable gain of £47,100. For tax year 2023-24, Ruby has taxable income of £23,435.

In addition to the above disposal, Ruby intends to make one further disposal during tax year 2023-24. This disposal will be either her holding of £1 ordinary shares in Pola Ltd or her holding of 50p ordinary shares in Aplo Ltd.

Pola Ltd is an unquoted trading company, in which Ruby has a 10% shareholding. The shareholding was purchased on 14 July 2016 for £23,700 and could be sold for £61,000. Ruby has been an employee of Pola Ltd since 2014.

Aplo Ltd is a quoted trading company, in which Ruby has a shareholding of 40,000 50p ordinary shares.

She received these shares as a gift from her father on 27 May 2019. On that date, the shares were quoted on the stock exchange at 212p - 218p. There were no recorded bargains on that date. The shareholding could be sold for £59,000.

The gift of the shares in Aplo Ltd from her father was not eligible for holdover relief and the sale of these shares would not be eligible for business asset disposal relief.

Required:

(a) Calculate Ruby's CGT liability for tax year 2023-24, assuming that her only disposal in that tax year is the investment property disposed of on 27 August 2023.

(b) Calculate Ruby's revised CGT liability for tax year 2023-24 if, during March 2024, she also disposes of either (i) her shareholding in Pola Ltd; or alternatively (ii) her shareholding in Aplo Ltd.