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

HMRC internal manual

Capital Gains Manual

Wasting assets: clocks and watches

TCGA92/S44 and TCGA92/S45

Antique clocks and watches, such as `Tompion’ clocks, are regarded as machinery for the purposes of TCGA92.  As such, they are deemed to have a predictable life which does not exceed fifty years and are treated as wasting assets.  A disposal of such an asset will only give rise to a chargeable gain if it had been used for business purposes and Capital Allowances were, or could have been, claimed, see CG15400+.