Related Commentary  Related HMRC Manuals

244(1)  The provisions of sections 242(2) and 243(2) shall have effect subject to this section.

244(2)  Where the allowable expenditure is less than the consideration for the part disposal (or is nil)–

(a)the said provisions shall not apply, and

(b)if the recipient so elects (and there is any allowable expenditure)–

(i)the consideration for the part disposal shall be reduced by the amount of the allowable expenditure, and,

(ii)none of that expenditure shall be allowable as a deduction in computing a gain accruing on the occasion of the part disposal or on any subsequent occasion.

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