Introduction to CGT – ACCA Taxation (TX-UK) Exam FA2019
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I was glad to learn why motor cars are an exempt disposal. But i was wondering why vintage cars are exempt disposals? ‘Cause their value would obviously increase over time and hence give rise to chargeable gains. So why would would HMRC want to lose out on such a revenue generating offer?
They are not exempt but charged as a chattel instead.