Related Commentary  Related CasesRelated HMRC Manuals

262(1)  Subject to this section a gain accruing on a disposal of an asset which is tangible movable property shall not be a chargeable gain if the amount or value of the consideration for the disposal does not exceed £6,000.

262(2)  Where the amount or value of the consideration for the disposal of an asset which is tangible movable property exceeds £6,000, there shall be excluded from any chargeable gain accruing on the disposal so much of it as exceeds five-thirds of the difference between–

(a)the amount or value of the consideration, and

(b)£6,000.

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