Any balancing charge arising in respect of a ship is effectively used to reduce the main pool of qualifying expenditure. However, if the disposal value to be brought into account exceeds the pool of unrelieved expenditure, the excess is recoverable immediately by way of a balancing charge. If certain conditions are satisfied, claims may be made to defer balancing charges in respect of qualifying ship disposals. The deferment provisions (commonly known as ‘roll-over relief for balancing charges’) were announced in reply to a Parliamentary Question on 21 April 1994, when the Chancellor of the Exchequer said:

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