# Taxation of Chargeable Gains Act 1992, Section 263: Passenger vehicles.


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.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/section/263 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-263
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.