CG76900 - Wasting assets: chattels which are wasting assets

CG76722+ tell you about chattels which are wasting assets and that these are exempt from Capital Gains Tax except where Capital Allowances were or could have been claimed. CG15400+ tell you about cases where Capital Allowances are involved.

The most common examples you will come across of assets which are wasting assets will involve plant or machinery of some description though some assets may naturally have a predictable life not exceeding 50 years.