(a) A chargeable asset was bought in June 2016 for £41,200 and sold in August 2020 for £73,350. Compute the chargeable gain.

(b) A chargeable asset was bought for £15,000 in August 2012. Legal costs of £500 were incurred when the asset was acquired. The owner of the asset incurred enhancement expenditure of £2,000 in May 2013 and £3,000 in June 2017. The asset was sold in July 2020 for £28,000. Legal costs of £700 were incurred on the sale. Compute the chargeable gain.

(c) A taxpayer bought a chargeable asset for £40,000 in February 2013. The asset was sold for £30,000 in October 2020. Compute the chargeable gain or allowable loss if:

(i) the asset was sold in an arm's length transaction

(ii) the asset was sold to the taxpayer's brother and had a market value of £45,000 on the date of the sale

(iii) the asset was sold to the taxpayer's wife (who lives with him) and had a market value of £45,000 on the date of the sale.