Exempt chargeable assets Flashcards
1
Q
What are the first three exempt chargeable assets?
A
- cash
- motor vehicles (including vintage cars)
- government bonds and qualifying corporate bonds
2
Q
What are the second three exempt chargeable assets?
A
- national savings certificates / premium bonds
- prizes and bettings winnings
- assets held in ISAs
3
Q
What are the final two exempt chargeable assets?
A
- wasting chattels
- non-wasting chattels where cost and proceeds < £6000
