Andrew sold a business asset to his sister, Victoria, for 130,000, in June 2020 when the market value was 150,000. He had bought the asset in May 2014 for 120,000.

Andrew and Victoria elected to hold over the gain. In May 2021, Victoria sold the asset for 180,000.

a) Determine Andrews chargeable gain on the disposal. Assume that any available reliefs are claimed.

b) Calculate Victorias chargeable gain on the sale of the asset