Part 5 Mineral extraction allowances
Chapter 6 Allowances and charges
Disposal values
421 Disposal of, or ceasing to use, asset
1
This section applies if—
a
a person has incurred qualifying expenditure on providing assets (including the construction of works), and
b
any of those assets—
i
is disposed of, or
ii
permanently ceases to be used by him for the purposes of a mineral extraction trade (whether because of the discontinuance of the trade or for any other reason).
2
The person is required to bring the disposal value of the asset into account for the chargeable period in which the disposal or cessation occurs.