Which of the following assets is exempt from chargeable gains tax?

The exemption from chargeable gains tax plays a significant role in taxation, particularly in the context of specific assets. Gilt-edged securities and goodwill created on or after the specified date have different considerations regarding capital gains.

Gilt-edged securities, often regarded as safe investments issued by the government, are specifically exempt from capital gains tax. This exemption is designed to promote investment in governmental debt and reflects the lower risk associated with such instruments.

Additionally, goodwill created on or after April 1, 2002, also enjoys an exemption from chargeable gains tax. This provision highlights the treatment of intangible assets, allowing businesses to transfer or sell goodwill without incurring capital gains tax liabilities, thus encouraging the growth and transfer of business ownership without significant tax burdens.

The inclusion of both asset types in the correct response underscores the unique tax policy positions that exist to foster certain economic activities and investments. Understanding these distinctions is crucial for anyone navigating the landscape of tax practice, as it enables informed decisions regarding asset management and capital growth strategies.