Will I Have to Pay Capital Gains Tax?

Last modified: July 23, 2023
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The good news is that whiskey casks are classified as wasting assets and are not subject to Capital Gains Tax (CGT). The classification is due to the evaporation and absorption of whiskey into the porous wood of the cask over time, known as The Angels’ Share. This annual loss of alcohol makes whiskey casks qualify for the CGT exemption. However, regarding any tax-related matters, we strongly advise seeking independent advice from a reliable and trustworthy source or referring to Gov.UK for more information.

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