ACCA TX ^UK Syllabus C. Chargable Gains For Individuals - Assets which are exempt - Notes ^{2 / 2}

Exempt assets include:

• Motor cars

• Animals (wasting chattels that do not qualify for capital allowances)

• Debtors

• Cash

• Chattels bought and sold for less than £6,000

• Corporate bonds

• Government securities

• Trading stock

• Shares in individual savings accounts ISA

• Shares in a VCT

• Foreign currency for private use (Cash)

• Works of art given for national use

• Damages for personal injury

• Life insurance policies (Cash)

• National Savings and Investment certificates

In the exam, if you think that an asset is exempt just state this.