Statute
Section 263 — Taxation of Chargeable Gains Act 1992: Passenger vehicles.
Text of the provision Official document
Passenger vehicles. 263 A mechanically propelled road vehicle constructed or adapted for the carriage of passengers, except for a vehicle of a type not commonly used as a private vehicle and unsuitable to be so used, shall not be a chargeable asset; and accordingly no chargeable gain or allowable loss shall accrue on its disposal.
Official source: legislation.gov.uk
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