This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Capital Gains Manual

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.