Chargeble Gains

Hello.

-Jackson acquired a holiday villa for £115,000 on 1 May 2008. He gave it to his wife Sophia on 30 September 2013 when it was £100,000. Sophia sold the villa for £165,000 on 1 July 2018.

Sophia had no capital disposals in the year 2018/19 and has capital losses brought forward of £4,600. Her taxable income for the tax year 2018/19 is £60,000.

What is the Sophia’s gains tax payable in the tax year 2018/19?

1. The answer is £9,436.
2. The working is as follows:(165000-115000-4600-11700) x 28%
3. Could you explain why 28% was used?
– Do we consider the holiday villa as a residential property?

Thanks