Part 2

Plant and machinery allowances
Chapter 12

Ships

Deferment of balancing charges

Further conditions for deferment
136
The conditions referred to in section 135(1)(c) are that—
a
the relevant disposal event is of a kind mentioned in section 61(1)(a) to (d) (cessation of ownership, loss, abandonment, destruction etc. of ship),
b
the old ship was a qualifying ship immediately before the relevant disposal event,
c
the shipowner has not incurred a loss in respect of the qualifying activity for the chargeable period for which he is liable to the balancing charge, and
d
no amount in respect of the old ship has been allocated to—
i
the overseas leasing pool,
ii
a single asset pool under section 206 (plant or machinery provided or used partly for purposes other than those of the qualifying activity),
iii
a single asset pool under section 211 (payment of partial depreciation subsidy), or
iv
a pool for a qualifying activity consisting of special leasing.