A chattel gets its name from an ancient legal term for a movable thing we can possess, that has a tangible form. It could, for example be as large as a motor car, or as small as a tiny ear ring. This post is an update on chattels and capital gains tax, because some … [Read more...]
Capital Gains Tax on Chattels Sold
Capital Gains Tax on Chattels Sold We recommend checking the capital gains tax on chattels, and any commissions applying, before you agree to sell personal possessions. Avery Associates can provide you with a valuation certificate, whereafter what you do next is over … [Read more...]
Chattels of a Deceased and Chargeable Gain
The chattels of a deceased person may attract capital gains tax in the United Kingdom under certain circumstances. The current tax rate at the time of publishing is 24%. This can add up to a sizeable sum. It may be well worthwhile whittling away within the law for the … [Read more...]
How Chattels and Gains Tax Work
A chattel is a tangible asset that you own, that you can physically touch and move around. This means it forms part of your estate, and is potentially liable for inheritance tax when you die. But some chattels are exempt, which is why it is essential to understand how … [Read more...]
