Chattels - Gross or net proceeds?

I have been looking at some tax questions relating to chattels and want to know whether the consideration of using £6k proceeds is based on the gross figure or the net figure. The net figure being after disposal costs.
For instance
If gross proceeds were £7,000, but disposal costs were £1100, to give net proceeds of £5,900. Would you consider the £7k and replace with £6k or use £5,900 and not use the formula 5/3()


  • kkelly
    kkelly Registered Posts: 51 ? ? ?
    Hi W666GNT,
    I would think its gross proceeds as that is whats in the formula. Assuming cost is less than 6K then I would use the formula.
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