We sort your Self Assessment for you. £149, all in.

Fast, effortless and 100% online.  Learn more

We sort your Self Assessment for you. £149, all in.

Chattel

  • 2 min read

A chattel is another name for a personal, physical possession or tangible good that is moveable between locations – e.g. a painting.

What are some examples of chattels?

Jewellery, clothing and vehicles are all examples of chattels as these are all personal belongings which can be moved. More include:

  • Furniture
  • Machinery
  • Books
  • Wine
  • Antiques
  • Crockery

Is a chattel the same as an asset?

We can definitely see where you’d confuse the two! But actually, an asset is something or even someone which is regarded as highly valuable. An asset, however, doesn’t have to take physical form – just look at Bitcoin!

Another difference between a chattel and an asset is that a chattel doesn’t have to be worth anything. They are usually solely for personal use rather than for investment purposes. 

This is not to say your chattel cannot be worth a ton if you do one day decide to sell it – so you might want to hold onto that old Chinese porcelain set just in case!

Do I have to pay Capital Gains Tax on my chattels?

If you’ve had a look at any of our Capital Gains Tax guides, then you probably have an inkling that disposing of a chattel may attract Capital Gains Tax (CGT).

Whether you pay CGT solely depends on how much profit is made after the sale. For a quick and easy calculation, pop your details into our Capital Gains Tax calculator.

We’ve also broken down all of the CGT rates and exemptions for you right here.

Is money a chattel then?

It can be held and moved and is usually for personal use, but no, money is not classed as a chattel. 

Although it isn’t quite clear why money is exempt from this category, we’d assume it’s because it is a medium of economic exchange and the primary measure of wealth. 

In simpler terms, money isn’t a chattel because… well, it’s money! 🤑

Bye stress. Hello TaxScouts

Tax shouldn’t be a pain. That’s why our top-rated services keep things simple. An accredited accountant helps you sort your taxes online, fast, and all for a fixed price.

What’s the service for me?

Not sure which service to choose? Don’t worry. Let us show you what comes with each – other than all-in prices, absolutely no jargon, and no nasty surprises (good ones only). Click the buttons below to learn more about any that catches your eye. Otherwise, know that no matter what you sign up for, we’re here to help. Wave goodbye to painful taxes for good!

Tax return
Tax advice
Tax bundle
Price (all in, fixed fee)
Price (all in, fixed fee)
£149
£119
£229
Matched with an accredited accountant
Matched with an accredited accountant
✓
✓
✓
Self Assessment sorted & filed
Self Assessment sorted & filed
✓
-
✓
Support to save on your tax bill
Support to save on your tax bill
✓
-
✓
1:1 tax advice consultation by phone or video
1:1 tax advice consultation by phone or video
-
✓
✓
Written summary of your tax advice consultation
Written summary of your tax advice consultation
-
✓
✓
More details
Tax Advice - TaxScouts

File your company tax return too

We can now help LTD companies file their tax return.

  • Get your own personal accountant
  • Simple, 100% online process
  • Transparent fixed pricing

Same easy TaxScouts, brand new service.

 

Learn more

FAQs

Got more questions? Ask away! Here are some FAQs related to our services, but if you have any other questions, get in touch with our UK-based support team on [email protected] or via the live chat.

We can help anyone who needs a hand with their personal UK taxes. We have three services: tax returns, tax advice and both combined. Here are the sorts of tax situations we can help with via these services:

  • Self-employed taxes
  • Landlord (including Airbnb, resident landlord and Rent2Rent) taxes
  • How to claim tax relief if you’re eligible for them
  • Pension contributions and the tax implications of them
  • Earning over £100k
  • Investment taxes (crypto, shares, property)
  • And more

There are two main things that set us apart. Firstly, for you, the users. We automate all the admin that accountants usually charge for. This saves them time and means we can pass on any cost savings to you. It also means that we can get your tax return filed in as little as 48hrs, from signup to filing, or your tax advice consultation booked in minutes.

If you’re ready to go, we’re ready to help.

For our accountant partners, our platform is built in a way that means you don’t compete with each other. You don’t bid on clients and never lose out on business to other accountants. The clients are yours, and when they return from previous years, they’re assigned automatically to you.

The UK tax year for personal tax returns goes from 6th April to 5th April. For example, the 2022/23 tax year starts on 6th April 2022, ends 5th April 2023 and you have to file and pay your tax bill by 31st January 2024.

If it’s your first time filing, you should make sure that you register for self assessment with HMRC (this basically means letting HMRC know that you’re earning untaxed income) by 5th October 2023.

Want to know more about the important dates to be aware of? We’ve got a guide on it. More tax dates can be found here.

Unfortunately not! 

Whilst we’re an HMRC recognised provider, we’re not able to contact them on your behalf. We also can’t fill out any forms they’ve sent you. This will have to be done by you! We can, however, advise on what their letters may mean and the best next steps. 

Not sure what number you need to contact them? Take a look at our guide where we list the most important numbers to contact HMRC based on your situation. 

Yes, after you’ve paid your one-off fee, you’ll get an accountant assigned to you, and you can communicate with them freely through our platform or by email.

Of course, if you have any questions beforehand, our support team also is available to help you, free of charge. Here’s how the TaxScouts self assessment tax returns process works.

Want free bookkeeping tools?

You ask, we deliver. Manage your self-employed finances all in one place.

  • Create and send personalised invoices
  • Track your income and expenses
  • Automatically upload your receipts with our AI-extraction tool
  • And more!

It’s totally free, forever and always.

 

Learn more

What the media are saying about us

Why choose TaxScouts?

Need a hand with your taxes from an accredited accountant? We can help. Get simple, affordable support with your personal taxes from a name you can trust.

Get started