All forms of property are potentially assets for the purposes of capital gains tax (see ¶508-000). However, it is specifically provided that three types of asset are not ‘chargeable assets’. Therefore, on the disposal of such an asset, neither a chargeable gain nor an allowable loss can accrue:

savings certificates and non-marketable securities issued under the National Loans Act 1968, the National Debt Act 1958, or the National Loans Act 1939 (see ¶508-420 );

the rights of the insurer under any policy of insurance and the rights of the insured, excluding those that relate to assets on the disposal of which a gain could accrue; and

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