Whether you are growing your wine cellar for the pleasure of drinking it, or for less heady investment reasons, it is important to be aware of key tax and succession planning considerations. Waste not, want not For capital gains tax (‘CGT’) purposes wine is a chattel, and if sold (or given away) during lifetime, may be subject to CGT unless exempt as a ‘wasting asset’ (an asset with a predictable life of less than 50 years at the time of acquisition).