Do I pay Capital Gains Tax when I sell my car or other personal possessions?

Cars are treated as 'wasting assets' for Capital Gains Tax purposes and are exempt regardless of how much they sell for, so selling a van or car privately doesn't create a CGT liability. Other personal possessions (chattels) such as furniture, jewellery or antiques are also exempt if you sell them for £6,000 or less, though gains on higher-value items can be chargeable, sometimes with special marginal relief rules. If you're selling higher-value personal items or business equipment rather than everyday possessions, it's worth checking with an accountant whether an exemption applies before assuming it's tax-free.