chargeable assets


chargeable assets
All forms of property, wherever situated, that are not specifically designated as exempt from tax on capital gains. Exempt assets include motor cars, National Savings Certificates, foreign currency for private use, betting winnings, life-insurance policies for those who are the original beneficial owners, works of art of national importance given for national purposes, principal private residences, gilt-edged securities, certain low-value items (see chattel exemption), and investments under personal equity plans and Individual Savings Accounts

Accounting dictionary. 2014.

Look at other dictionaries:

  • chargeable assets — All forms of property, wherever situated, that are not specifically designated as exempt from tax on capital gains Exempt assets include motor cars, National Savings Certificates, foreign currency for private use, betting winnings, life insurance …   Big dictionary of business and management

  • chargeable asset — ➔ asset * * * chargeable asset UK US noun [C, usually plural] UK ► ACCOUNTING CAPITAL ASSET(Cf. ↑capital asset): »You can offset any losses for the year against gains on other chargeable assets …   Financial and business terms

  • chargeable gain — In the UK, that part of a capital gain arising as a result of the disposal of an asset that is subject to taxation. Non chargeable gains include: • gains resulting from proceeds that are taxable under income tax; • gains from exempt assets (see… …   Accounting dictionary

  • chargeable gain — In the UK, that part of a capital gain arising as a result of the disposal of an asset that is subject to taxation. Non chargeable gains include: • gains resulting from proceeds that are taxable under income tax; • gains from exempt assets (see… …   Big dictionary of business and management

  • chargeable — charge|a|ble [ tʃardʒəbl ] adjective FORMAL 1. ) if an amount of money is chargeable, it must be paid: Interest is chargeable at 5 percent per year. 2. ) considered to be a crime that you can be officially accused of: a chargeable offense 3. ) if …   Usage of the words and phrases in modern English

  • chargeable — UK [ˈtʃɑː(r)dʒəb(ə)l] / US [ˈtʃɑrdʒəb(ə)l] adjective formal 1) if an amount of money is chargeable, it must be paid Interest is chargeable at 5 per cent per year. 2) if income or property is chargeable, you must pay tax on it chargeable assets 3) …   English dictionary

  • chargeable — adjective 1 chargeable costs must be paid: Living expenses are chargeable to my account. 2 chargeable assets or gains have to have tax paid on them 3 a chargeable offence is serious enough for the police to officially state that you are guilty of …   Longman dictionary of contemporary English

  • chargeable — charge|a|ble [ˈtʃa:dʒəbəl US ˈtʃa:r ] adj BrE 1.) needing to be paid for ▪ Advice will be given as a chargeable service. 2.) something that is chargeable must have tax paid on it ▪ chargeable assets …   Dictionary of contemporary English

  • chargeable — charge‧a‧ble [ˈtʆɑːdʒəbl ǁ ˈtʆɑːr ] adjective 1. FINANCE COMMERCE an amount of money that is chargeable can be charged and must be paid: • The Tribunal determined that the legal fees chargeable were £4078 plus VAT. 2. COMMERCE work …   Financial and business terms

  • assets — /aesets/ Property of all kinds, real and personal, tangible and intangible, including, inter alia, for certain purposes, patents and causes of action which belong to any person including a corporation and the estate of a decedent. The entire… …   Black's law dictionary