Richard Curtis outlines the capital gains tax exemptions for chattels and wasting assets.
Some assets are exempt from capital gains tax (CGT), and it is always worth being aware of these. The exemption for an only or main residence (immovable property) is probably the most well-known, but there are also exemptions for chattels and wasting assets (moveable property).
Chattels
A chattel is, broadly, tangible movable property: something physical that can be moved and is not land or an intangible right. Common examples
