We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Electronic Synthesizer - Wasting Chattel?

Options
staffsuk
staffsuk Posts: 219 Forumite
Part of the Furniture 100 Posts Name Dropper Combo Breaker
edited 28 August 2009 at 9:13PM in Cutting tax
I just wondered if anyone could clarify whether an electronic synthesizer would be classed as a 'wasting chattel' when viewed for CGT? I gather all machinery is classed as wasting chattels - but what about electronic goods - are they classed as machinery? Thanks!

Comments

  • olivetti
    olivetti Posts: 215 Forumite
    Part of the Furniture
    Yes, anything with an expected life of less than 50 years is a wasting chattel. Any such consumer electronic items, TVs, computer etc are considered machines and therefore a wasting chattel.

    HTH
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.6K Spending & Discounts
  • 244K Work, Benefits & Business
  • 598.9K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture