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HMRC internal manual

Capital Gains Manual

Chattels: exempt and chargeable gains: disposal consideration


There is no chargeable gain on the disposal of a single chattel (tangible moveable property) if the gross consideration does not exceed £6,000.

Where the consideration exceeds £6,000 the chargeable gain may be restricted, see CG76577.

In any case where you have to use the market value of the asset rather than any actual consideration, you compare the £6,000 limit with that market value.

CG14530 onwards tell you more about cases where you have to use the market value.

There are special rules which may apply where a number of similar chattels are disposed of. CG76631 onwards tell you about these.

There are special rules where a chattel was owned by more than one person. You compare each person’s share of the disposal consideration with their own separate limit.


Mr and Mrs A jointly purchase a painting in 2009 for £2,000.  In 2011 they sell it for £11,000.  Their individual shares of the disposal consideration are £5,500 each.  This is less than £6,000 so both of their disposals is exempt under TCGA92/S262.