In March 2024, Jonathan gives a business asset to his daughter. Jonathan acquired the asset for £25,000 in May 2018 and its market value on the date of the gift is £60,000. Both Jonathan and his daughter elect that the gain arising should be held-over.

(a) Compute the gain arising on the gift and the amount which may be held-over.

(b) How would the computation differ if Jonathan's daughter paid him £32,000 for the asset?