262 Chattel exemption
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

Miscellaneous reliefs and exemptions

262  Chattel exemption

(1)     Subject to this section a gain accruing on a disposal of an asset which is tangible movable property shall not be a chargeable gain if the amount or value of the consideration for the disposal does not exceed £6,000.

(2)     Where the amount or value of the consideration for the disposal of an asset which is tangible movable property exceeds £6,000, there shall be excluded from any chargeable gain accruing on the disposal so much of it as exceeds five-thirds of the difference between—

(a)     the amount or value of the consideration, and

(b)     £6,000.

(3)     Subsections (1) and (2) above shall not affect

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Recklessness in criminal cases

Recklessness in criminal casesWhat is recklessness?In respect of some statutory offences and common law crimes the prosecution are required to prove a mental element of recklessness on the part of the defendant.Recklessness means unjustified risk taking on the part of the accused.Prior to the House

LEXISNEXIS

Removal of a director

Removal of a directorThis note should be read in conjunction with Practice Note: Appointment, retirement and resignation of a director.For an illustration of the steps that must be taken to remove a director, see Removal of a director—flowchart.Removal from officeResolution to remove a directorA

LEXISNEXIS

Notice of assignment

notice of [assignment OR transfer]To: [insert name of landlord][of [insert address] OR whose registered office is at [insert address] Company number [insert number]][and][To: [insert name of head landlord]][of [insert address] OR whose registered office is at [insert address] Company number [insert

LEXISNEXIS

Mortgagees and tenants

Mortgagee’s consent to grant of leaseIf a property is subject to a mortgage that prohibits leasing without the mortgagee’s consent, then written evidence of consent must be obtained prior to completion of the lease. On the grant of an underlease, mortgagee’s consent in respect of any mortgage over