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Hi Forum,
Actually, I had a doubt that whether antiques is an exempt asset or Chargeable asset?
Because in Example 2 of Chapter 12 of opentuition notes, we calculate the CGT for the antique while on page number 75 of the opentuition notes, antiques are exempt from CGT?Please enlighten me.
Thanks in advance
Antiques are not exempt assets in their own right!
Where you see an en exemption applying to an antique it is the chattels exemption that is being applied because the antique is both bought and sold for less than the chattel exemption limit of £6,000 and antiques are chattels!
Hope you are enlightened!
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