Related Commentary  Related HMRC Manuals

436(1)  This section applies if–

(a)a company owns any plant or machinery at any time on any day (“the relevant day”),

(b)for the purpose of determining a question as to the application of Chapter 3 or 4 regard must be had to the amount (if any) which falls (or would fall) to be shown in any balance sheet of the company in respect of the plant or machinery, and

(c)condition A or B is met.

436(2)  Condition A is met if, apart from this section, there would be no amount which would fall to be shown in the balance sheet of the company in respect of the plant or machinery.

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