Olympic torchbearer

I have been lucky enough to be one of the Olympic torchbearers and I decided to buy my torch. If I were to ever sell the torch in future, would I pay tax on it?  

1st June 2012

Some of the torches have been fetching £5,000 and other people have even been selling their runner’s uniform.

If you sell the torch in future, then based on current legislation, you would trigger Capital Gains Tax if you sold the torch for more than £6,000.

If you would like to discuss this further, please do not hesitate to contact your local TaxAssist Accountant.

By Jo Nockels

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