CGT on Violin Bow

CGT on Violin Bow

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A musician was given a violin bow 12 years ago by an ailing colleague. No value was put on the bow then, and none has been agreed since. The musician has since gone to an expert in Paris who has valued it at £18,000. A valuation fee of £1,000 was paid. What are the CGT implications on its prospective sale?

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By George Attazder
10th Jan 2013 10:42

Go...

... back to Paris. Go directly to Paris. Do not pass Go.

Get the expert to opine on what the value of the bow would have been 12 years ago.

Marginal relief for chattels can't apply once the consideration received exceeds £15,000 and so you will have a standard CGT comp.  The base cost is the market value when acquired.

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