Exempt chargeable assets

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February 2, 2024 at 11:23 pm #699628
Anonymous
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Hi,
One of the exempt assets mentioned in our notes is certain chattels ( like antiques)
In eg 3,pg 102 , we are asessing gains of an antique vase.
Exempt antiques means?

Thanks
February 3, 2024 at 2:51 pm #699683
JillyB
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Most antiques are classed as chargeable in the exam.
You will not have to decide if an asset is a chattel, wasting or otherwise.
The question in the exam will be checking if you know and can apply the chattel rules on page 106
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