Commentary

B3.109 Capital allowances―successions to trades where no sale of assets

Business tax
Business tax | Commentary

B3.109 Capital allowances―successions to trades where no sale of assets

Business tax | Commentary

B3.109 Capital allowances―successions to trades where no sale of assets

As regards the computation of capital allowances on trade transfers without a change of ownership, see D6.316.

The legislation described in this article does not apply to capital allowances on plant and machinery, research and development and assured tenancies1. There are similar provisions regarding plant and machinery allowances in CAA 2001, s 265 (see B3.390).

A 'relevant activity' means a trade, property business, profession or vocation2.

The legislation applies where3:

  1.  

    (a)     there is a succession to a relevant activity

  2.  

    (b)     the relevant activity is deemed for tax purposes to be discontinued as a

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