HMRC internal manual

Capital Gains Manual

Chattels: models and toys

TCGA92/S262 and TCGA92/S45

Chattels exemption

Models and toys are chattels (tangible moveable property) so disposals for £6,000 or less will be exempt under TCGA92/S262, see CG76573.  If models and toys are disposed of to the same person then they may form a set, see CG76631 onwards for more details.

Wasting asset exemption

Many models and toys have a predictable life exceeding 50 years.  However models and toys which are plant or machinery are treated as wasting assets regardless of their actual predictable life, TCGA92/S44(1)(c) see CG76721.

Mechanical models and toys are always regarded as wasting assets.

Other models and toys will be non-wasting unless they are used as plant in a business.  For the meaning of plant see the Capital Allowances Manual CA21000 onwards.

Disposals of models and toys which are chattels and are plant or machinery will be exempt under TCGA92/S45(1) unless:

  • capital allowances have been or could have been claimed, see CG15400+,


  • section 45(3B) applies, see CG76722.