Chris Thorpe outlines the tax rules surrounding chattels upon disposal, in particular wasting assets.
When capital assets are disposed of, capital gains tax (CGT) must be considered, but when assets other than ‘real property’ and intangibles like shares are sold, there is the possibility that no tax is payable at all.
A chattel
A chattel is defined within Administration of Estates Act 1925, s 55(x) as:
‘tangible moveable 
