The owner of an asset that has become of negligible value may make a claim under TCGA92/S24 (2) to be treated as if he had sold and immediately reacquired it at its negligible value at the time of the claim or at an earlier time specified in the claim.

A successful negligible value claim for goodwill is likely to result in a loss based on its original cost (if any) or, where appropriate, its 31 March 1982 value, see CG13121+.

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