Chargeable Business Assets
Chargeable business assets are assets used for the purposes of a trade (including farming),
profession, office or employment, carried on by:
♦ The individual,
♦ The individual’s family company or
♦ A company, which is a member of a trading group of which the holding company is the
individual’s family company.
Land, buildings, plant and machinery are chargeable business assets. Goodwill is a chargeable
business asset. Shares and other assets held as investments are excluded. Assets, which are not
chargeable assets (for example, stock, debtors or cash) would not be included in the definition.
Essentially every asset is a
chargeable asset except one on the disposal of which, at the time of
the disposal, any gain arising would not be a chargeable gain. Thus shares held as an investment
would not be a chargeable
business asset but would be a chargeable asset.