Sale of Car - CGT?

Posted by austwick PM | on Tue, 06/10/2009 - 11:07 488 5 comments | report

I know that 'private cars' are exempt form cgt.

In this case a company has sold a sports car (owned approx 10 years) at a considerable gain, the car never been used in business activities - expect kept under a sheet in a lock up.

My question is could this be classed as a sale of an investment and would CGT be due on gain?

Any help greatly appreciated.

Comments

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Sale of Car - CGT?

Anonymous | Tue, 06/10/2009 - 11:47

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austwick | Tue, 06/10/2009 - 11:53

Sale of Car - CGT?

Anonymous | Tue, 06/10/2009 - 12:02

thanks very much for your help

austwick | Tue, 06/10/2009 - 12:24

P11d issue

occca | Tue, 06/10/2009 - 12:41