Chapter 9 - 1.2 - Chargeable Assets

Question 1

Are all assets chargeable?

Answer 1

All assets are chargeable unless specifically exempted, in which case they are outside of the scope of capital gains tax

Question 2

What are the first three exempt assets?

Answer 2

• cash
• motor cars (including vintage cars)
• gilt edged securities and qualifying corporate bonds

Question 3

What are the fourth and fifth exempt assets?

Answer 3

• National Savings Certificates / premium bonds
• prizes and betting winnings

Question 4

What are the last two exempt assets?

Answer 4

• assets held in individual savings accounts (ISAs)
• certain types of chattels