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A whole collection was sold in one lot within the last 6 months 220k to a dealer The seller walked away with £200k - never heard of any tax being paid - all good 👍🏻
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Not if you replaced originals with pressing - now look who’s laughing 👍🏻👍🏻
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I'm not familiar with UK tax law. But basically it's the same as german tax law. A record collection is an asset. Period. And if the value of an asset or the total sum of all assets exceed a certain t
Does anyone know if records (chattels) are treated as wasting assets (like a classic car) or non wasting assets (like jewellery or paintings) in a persons estate.
With values continuing to rise if they a non wasting asset then the beneficiaries could find they have a 40% tax charge on their inheritance.
Appreciate any views and especially if anyone has had actual experience.
Thanks PT