The antique cabinet is a chattel so that Henrietta needs to apply the disposal of chattels to calculate the tax. According to HMRC, if gross proceeds are < GBP 6,000 will be exempted from capital gain tax, and if gross proceeds > GBP 6,000 chargeable gain cannot exceed 5/3 of the amount by which the disposal proceeds exceed GBP 6,000. In this case, Henrietta need work out the amount by which the disposal exceeds £6,000 which mean Henrietta get £7,200 minus £6,000 and then multiply with 5/3.
therefore chargeable gain restricted:
Private cars are exempt from Capital Gains Tax and many chattels having only a limited lifespan are also exempt. (See the guidance on wasting assets in parts 4 and 5 below.) But if you dispose of any other chattel, you may be liable to Capital Gains Tax.