What is a CGT asset?

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This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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Many CGT assets are easily recognisable-for example, land, shares in a company and units in a unit trust. Other CGT assets are not so well understood-for example, contractual rights, options, foreign currency and goodwill. All assets are subject to the CGT rules unless they are specifically excluded.

CGT assets fall into 3 categories:

• collectables
• personal use assets
• other assets.