61 Disposal events and disposal values
Capital Allowances Act 2001 (2001 c 2) | Legislation

61  Disposal events and disposal values

(1)     A person who has incurred qualifying expenditure is required to bring the disposal value of the plant or machinery into account for the chargeable period in which—

(a)     the person ceases to own the plant or machinery;

(b)     the person loses possession of the plant or machinery in circumstances where it is reasonable to assume that the loss is permanent;

(c)     the plant or machinery has been in use for mineral exploration and access and the person abandons it at the site where it was in use for that purpose;

(d)     the plant or machinery ceases to exist as such (as a result of destruction, dismantling or otherwise);

(e)     the plant or machinery begins to be used wholly or partly for purposes other than those of the qualifying activity;

[(ee)     the plant or machinery begins to be leased under a long funding lease (see Chapter 6A);]

(f)     the qualifying activity is permanently discontinued.

(2)     The disposal value to be brought into account depends on the disposal event, as shown in the Table—

TABLE
DISPOSAL VALUES: GENERAL
1 Disposal event2 Disposal value
1 Sale of the plant or machinery, except
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