20% off ACCA & CIMA Books

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

Chattels

This topic has 3 replies, 2 voices, and was last updated 9 years ago by Tax Tutor.

Viewing 4 posts - 1 through 4 (of 4 total)

Author
Posts
May 3, 2015 at 4:33 pm #243824
6shahir
Member
- Topics: 202
- Replies: 296
Is a wasting chattel always exempt?
May 4, 2015 at 4:44 pm #244032
Tax Tutor
Member
- Topics: 2
- Replies: 3965
Basically yes for purposes of our exam – the only exception is plant and machinery eligible for capital allowances and not otherwise exempted by the £6,000 rule.
May 4, 2015 at 4:46 pm #244033
6shahir
Member
- Topics: 202
- Replies: 296
if a wasting asset less than 6000, then wat hapens?
May 5, 2015 at 10:14 pm #244247
Tax Tutor
Member
- Topics: 2
- Replies: 3965
A wasting chattel is exempt whatever the value. Any other chattel is exempt if both bought and sold for less than 6,000.
Author
Posts

Viewing 4 posts - 1 through 4 (of 4 total)

You must be logged in to reply to this topic.