As the Olympic torch relay makes its way around the country HMRC has published guidance on ‘Selling your Olympic Torch’ and whether you can expect to be charged tax.
The Revenue explained that if the torch is worth less than £6,000 when you sell it then you will not have to pay capital gains tax (CGT) on your proceeds. If it is worth more than £6,000 then you will have a chargeable gain, and you may have to pay CGT, depending on whether you have other gains in the tax year.
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