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A gain is not a chargeable gain if it arises on the disposal of an asset which is tangible movable property (a chattel) and the gross disposal consideration, ignoring incidental expenses of disposal does not exceed £6,000¹. For a list of some items qualifying as chattels, see CG76870–CG76884. If the disposal consideration exceeds £6,000, marginal relief may apply.

'Movable' is not defined in the legislation. HMRC considers that if an asset is permanently or semi-permanently attached to land or any building, it is regarded as part of that land or building². It will consider whether the asset can be moved easily and without damaging its surroundings. Small items of plant and other easily moved items will satisfy the test. It provides the example of a central heating radiator, which before it is installed in a building as part of a central heating system, is a chattel. Once installed, it becomes a fixture. If the attachment to a building is temporary and is no more than is necessary for the asset to be used