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Posted Tue, 18 Jul 2023 12:08:45 GMT by
Hi, I’m in the process of selling personal items – jewellery, watches etc, each single item or a set e.g. pair of earrings/earrings-pendant is less than 5k, however the combined value of sale would be around 20k. I intend to sell to the same shop in one transaction. Please can you confirm that since each single item/ set sells for less than 6k, no capital gain tax will be due & I don’t need to declare on the return form as well.
Posted Mon, 24 Jul 2023 15:05:30 GMT by HMRC Admin 8 Response
Hi,
If each of the chattels are sold for less that £6000.00 you don't pay capital gains tax.  
If you sell all or part of a set to the same person for less than £6,000, you won’t pay tax.  
If you sell parts of a set to different people, you won’t pay tax on each part sold for less than £6,000.  Sets include things like chessmen, books by the same author, matching vases and sets of china.
If no capital gains tax is payable, then it would not be reported on a tax return.
Thank you

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