The owner of an asset may make a negligible value claim to HMRC (see CG13135) if either condition A or B is met (section 24(1A)).

Condition A is that the asset has BECOME of negligible value (see below) while owned by the claimant (section 24(1B)).

Condition B is that:

the claimant acquired the asset in a transaction to which one of the no gain/no loss provisions in TCGA92/35(3)(d) applied (see CG22000c),


the asset was of negligible value at the time of the disposal by which the claimant acquired the asset,


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