chargeable asset

chargeable asset

n
(Accounting & Book-keeping) any asset that can give rise to assessment for capital gains tax on its disposal. Exempt assets include principal private residences, cars, investments held in a personal equity plan, and government securities
References in periodicals archive ?
iii) SDLT Charge III - There is also some uncertainty as to whether sukuk certificate holders would be liable to SDLT, as the certificate will evidence their interest in an underlying chargeable asset.
This is true if it is a gift of cash but if it's a gift of a chargeable asset, such as a property or shares, there is a charge to CGT.
It is a chargeable asset for Capital Gains Tax purposes but should qualify for Business Taper Relief.