I bought a domain name 10 years ago and forgot about it; the annual renewal cost just kept going on my credit card (something like £5 a year).
I then got an approach out of the blue from a company who bought it for £20k.
I need to declare this on my self assessment. 2 quick questions:
1. I assume if anything this is CGT rather than income tax as it's a personal possession and nothing to do with my day job (correct)?
2. Domain names are actually rented on an annual basis from a domain registrar. You have to pay a renewal fee every year for that year's registration, otherwise the domain is deregistered and someone else can register it. Does this mean it's a limited lifespan asset and except from CGT? https://www.gov.uk/capital-gains-tax-pe ... d-lifespan
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