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Personal tax articles tagged with term 'pre-owned assets tax'

Personal About POAT - Pre-Owned Assets Tax

If you still use something you have given away or sold for less than its full value at any time since 18 March 1986 and the gift is not caught by the gift with reservation rules it may from 6 April

Personal Gift with reservation of benefit

If you give something away but reserve the right to use it, it counts as a gift with reservation – and is treated as remaining your property.