CGT CHAPTER 12 PAGE 82 EXAMPLE 9 (D)

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May 24, 2016 at 7:37 pm #316897
Sakina
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CGT CHAPTER 12 EXAMPLE 9 (D)

Behind the answer booklet it says that the vintage car is exempt, but the cost and proceeds are both above 6000, so isnt it done in normal calculation rather than be exemt?

or is it assumed to be a private use car????

pls help
May 25, 2016 at 10:01 am #316998
Tax Tutor
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It is indeed a car and therefore exempt whatever the value or cost may be.
May 31, 2016 at 7:08 am #318271
samh
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Hi, tutor, does that mean every car should be exempt when it comes to calcutating the capital gains?
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