20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for September 2025 exams.
Get your discount code >>

CGT calculation – Example 1, Tina

This topic has 2 replies, 2 voices, and was last updated 3 years ago by mrjonbain.

Viewing 3 posts - 1 through 3 (of 3 total)

Author
Posts
January 25, 2022 at 10:25 am #647419
ajabbie12
Participant
- Topics: 2
- Replies: 14
Hello, why did we deduct the antique vase from the computation, I thought this would be classed as exempt due to being a chattel. is there a way to know if something is exempt or not when being an antique?
January 25, 2022 at 10:47 am #647421
mrjonbain
Moderator
- Topics: 6
- Replies: 2471
Can you please give details of the page number. Non-wasting chattels are not exempt so that can’t be the factor. Was it sold at a loss? Was it both bought and sold for less than £6000?
January 26, 2022 at 8:18 am #647492
mrjonbain
Moderator
- Topics: 6
- Replies: 2471
Not sure where you get the idea that antiques are generally exempt. Found the example you wrote about and it is clear a loss is made on item of £5000. I believe certain items such as UK war medals are exempt.Also if bought and sold for under £6000. Hope this helps.
Author
Posts

Viewing 3 posts - 1 through 3 (of 3 total)

You must be logged in to reply to this topic.