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HMRC internal manual

Capital Gains Manual

Chattels: particular assets which are chattels

TCGA92/S45 and TCGA92/S262

CG76550+ explains how a gain on a chattel (tangible moveable property) will not be a chargeable gain if the disposal consideration is £6,000 or less.

CG76631 explains the special rules for sets of chattels.

CG76721 explains that disposals of wasting assets that are chattels are exempt unless capital allowances can be claimed or TCGA92/S45(3B) applies.

CG76590 explains how a loss is restricted if a chattel is disposed of for less than £6,000.

Applying these rules no chargeable gain or allowable loss will normally arise on the disposal of ordinary household effects and furnishings.

Common examples of chattels which are typically non-wasting and disposed of for more than £6,000 include:

  • Paintings and other works of art
  • antiques
  • furniture
  • non-sterling coins and bank notes
  • ornaments
  • jewellery
  • stamps
  • books and magazines
  • militaria
  • models and toys.

Some of these may form sets of assets.