Is Whisky bought & sold in Cask exempt from Capital Gains Tax?
At the moment, as per current legislation, UK taxpayers, do not pay UK Capital Gains Tax on cask purchases as whisky is regarded as a “wasting asset”. Whisky purchased in cask for personal use, as gifts for family, godchildren and friends, etc. would therefore be exempt from Capital Gains Tax on realisation of the asset, as per current UK Tax Legislation.