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Vintage Star Wars Collecting
Vintage Collecting Chat
Capital Gains Tax
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<blockquote data-quote="edd_jedi" data-source="post: 565406" data-attributes="member: 2"><p>So after reading the entire gov.uk section on capital gains tax on personal possessions:</p><p></p><p>[URL unfurl="true"]https://www.gov.uk/capital-gains-tax-personal-possessions/sets[/URL]</p><p></p><p>I'm still none the wiser as to whether Star Wars toys fall under it. Do they have a limited lifespan? Are they part of a set? All these things affect it.</p><p></p><p>Context - we're considering doing some home improvements, and with current awful mortgage rates, remortgaging isn't really an option.</p><p></p><p>I am struggling to work out if I can sell some of my collection to fund this work, without paying tax on it (or if I do, how much.)</p><p></p><p>Anyone else in the UK done similar? The project is too big for "cash sales" so would likely have to sell through eBay and PayPal etc.</p><p></p><p>Any advice appreciated!</p></blockquote><p></p>
[QUOTE="edd_jedi, post: 565406, member: 2"] So after reading the entire gov.uk section on capital gains tax on personal possessions: [URL unfurl="true"]https://www.gov.uk/capital-gains-tax-personal-possessions/sets[/URL] I'm still none the wiser as to whether Star Wars toys fall under it. Do they have a limited lifespan? Are they part of a set? All these things affect it. Context - we're considering doing some home improvements, and with current awful mortgage rates, remortgaging isn't really an option. I am struggling to work out if I can sell some of my collection to fund this work, without paying tax on it (or if I do, how much.) Anyone else in the UK done similar? The project is too big for "cash sales" so would likely have to sell through eBay and PayPal etc. Any advice appreciated! [/QUOTE]
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