Related Commentary  Related CasesRelated HMRC Manuals

24(1)  Subject to the provisions of this Act and, in particular to sections 140A(1D), 140E(7) and 144, the occasion of the entire loss, destruction, dissipation or extinction of an asset shall, for the purposes of this Act, constitute a disposal of the asset whether or not any capital sum by way of compensation or otherwise is received in respect of the destruction, dissipation or extinction of the asset.

24(1A)  A negligible value claim may be made by the owner of an asset (“P”) if condition A or B is met.

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