s 443 Disposal values and disposal events
(1) A person is required to bring a disposal value into account in respect of qualifying expenditure incurred by him if— (a) he ceases to own an asset representing the expenditure, or (b) an asset representing the expenditure is demolished or destroyed at a time when he owns the asset. (2) Subsection (1) is to be read with section 555 (disposal of oil licence with exploitation value). (3) But a person is not required to bring a disposal value into account under subsection (1) if the disposal event gives rise to a balancing charge under Part 2 ... (plant and machinery allowances ...). (4) The disposal value to be brought into account under subsection (1) depends on the disposal event, as shown in the Table— Disposal values (5) Subsection (4) is subject to— section 445 (costs of demolition), section 553 (nil value in case of disposal of oil licence relating to undeveloped area), and section 555 (disposal of oil licence with exploitation value). (6) A person is also required to bring a disposal value into account by section 448 (additional VAT rebate generates disposal value). (7) In this Chapter “ disposal event ” means an event of a kind that requires a disposal value to be brought into account under subsection (1).