Date of sale for capital allowances purposes

Sale of asset for balancing charge

Didn't find your answer?

Hi all,

What is the date of the sale of an asset for capital allowances purposes? CA11800 outlines the purchase date rules. Do the sale date rules mirror these? (Continuing business, not a cessation).

Thanks.

 

Replies (6)

Please login or register to join the discussion.

avatar
By taxdigital
19th Feb 2024 12:54

Software Seeker wrote:

Hi all,

What is the date of the sale of an asset for capital allowances purposes?

 

s.61 CAA 2001
https://www.legislation.gov.uk/ukpga/2001/2/section/61

Thanks (0)
Replying to taxdigital:
By Ruddles
19th Feb 2024 13:12

I'm not sure how that answers the question.

Thanks (0)
Replying to taxdigital:
avatar
By Software Seeker
19th Feb 2024 17:30

Thanks. Specifically looking for the date of sale for CA purposes. CA11800 refers to the purchase date rules and I was wondering if they mirror each other. Thanks.

Thanks (0)
Replying to Justin Bryant:
avatar
By Software Seeker
20th Feb 2024 16:48

Thanks.

Thanks (0)
Replying to Software Seeker:
avatar
By taxdigital
20th Feb 2024 10:50

As I can't see (or may be I'm not aware of) anything specific in CAA, I think it should be when the title passes. For e.g:

s.17
https://www.legislation.gov.uk/ukpga/1979/54/section/17

s.18
https://www.legislation.gov.uk/ukpga/1979/54/section/18

Thanks (1)