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Posted Thu, 07 Nov 2024 15:00:58 GMT by Katya Tasheva
Hello I need to sell art print I own , it’s not original artwork. it was a Birthday gift from a friend some years ago. There is no way to know the price of this item at the time of gift. My guess it was not more than 2500-3000£. Now it is estimated by auction platform 7000-10000. But no exact price. How do I work out if it’s taxable or it’s similar to watch is not? And if taxable how do I calculate the tax?
Posted Tue, 12 Nov 2024 11:35:44 GMT by HMRC Admin 17 Response

Hi ,
 
Please refer to :

CG76870 - Chattels: particular assets which are chattels      and :

Post transaction valuation checks for Capital Gains (CG34)  .

Thank you .

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