Disposal of an industrial building resulting in capital loss

Disposal of an industrial building resulting in...

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Hello,

Really quick one.  If a company sells an industrial building for £200k, which cost £300k (i.e. giving rise to a capital loss of £100k) but for which it had claimed IBAs in the past totalling £150k, do we reduce the base cost by £150k, meaning there is actually a capital gain of £50k? Or do we just reduce the capital loss to zero? There is something in the back of my head that says we only restrict the loss but rather than create a capital gain? I can't find the legislation to back this up though so I'm worried I might be wrong!

Cheers

 

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By aidious
09th Dec 2015 08:33

bumping back up in case someone knows the answer . . . .

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Replying to johnjenkins:
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By aidious
09th Dec 2015 19:49

SoS

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By [email protected]
17th Dec 2015 16:57

Adious

Try s41 TCGA 92 and HMRC Manuals - CG 15410

Jeremy

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