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HMRC internal manual

Capital Gains Manual

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HM Revenue & Customs
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Gains: disposal of found objects: treasure trove: object returned to finder

Prior to the introduction of the Treasure Act the Crown might have rewarded the finder by giving the item of treasure trove to him or her. If the object is disposed of there may be a liability to Capital Gains tax. The liability will depend on the deemed cost of the object to the finder and hence on when it was received from the Crown:

Object received on or before 31/3/82

If the object was received from the Crown on or before 31 March 1982, the rebasing provisions of TCGA92/S35 apply, see CG16700+.

Object received after 31/3/82 but before 5/4/83

The acquisition cost will be nil because the `corresponding disposal’ was by an `excluded person’, that is to say, the Crown (CGTA79/S29A (2) and (5)(b)).

Object received on or after 5/4/83

The gift of treasure trove by the Crown falls within s17(1)(a) TCGA92. The acquisition cost to the finder will be the market value on the date of the gift by the Crown, see CG14530+.