[HMRC Tax Bulletin 45, February 2000]

We have received a number of enquiries recently about the Capital Gains Tax treatment of pairs of shotguns and this article sets out our views on the point. It is written on the premise that any transactions by private individuals involving the acquisition and disposal of such guns are not regarded as “trading” or an “adventure in the nature of trade” within the charge to Income Tax under Case I of Schedule D.

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