An important aspect of the fixtures legislation is the opportunity, in certain circumstances, to choose how the overall value of a purchase and sale agreement should be allocated between different elements.

An election can only be made following the sale of the qualifying interest or grant of a lease in cases where a disposal value is required to be brought into account (items 1, 5 or 9 in table in CAA 2001, s. 196 – see ¶245-600), i.e. where the person ceasing to own the qualifying interest has claimed allowances.

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