Related Commentary  Related HMRC Manuals

47(1)  Section 46 shall not apply in relation to a disposal of an asset–

(a)which, from the beginning of the period of ownership of the person making the disposal to the time when the disposal is made, is used and used solely for the purposes of a trade, profession or vocation and in respect of which that person has claimed or could have claimed any capital allowance in respect of any expenditure attributable to the asset under paragraph (a) or paragraph (b) of section 38(1), or

(b)on which the person making the disposal has incurred any expenditure which has otherwise qualified in full for any capital allowance.

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