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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Wasting assets: chattels which are wasting assets


CG76721 explains that disposals of chattels (tangible moveable property) which are wasting assets are exempt for the purposes of TCGA92 unless:

  • Capital Allowances were or could have been claimed, see CG15400+, or
  • TCGA92/S45(3B) applies, see CG76722.

The most common examples you will come across of assets which are wasting assets will involve plant or machinery of some description though some assets may naturally have a predictable life not exceeding 50 years.