Part 2

Plant and machinery allowances
Chapter 5

Allowances and charges

Disposal events and disposal values: general

Meaning of “disposal receipt” and “disposal event”
60
1
In this Part “disposal receipt” means a disposal value that a person is required to bring into account in accordance with—
a
sections 61, 62 and 63 (disposal events, disposal values and the general limit on the amount of a disposal value),
b
any of the provisions of this Part listed in section 66, or
c
paragraph 11 of Schedule 12 to FA 1997 (finance lease or loan: receipt of major lump sum) or any other enactment,
when read with sections 64 and 264(3) (cases in which no disposal value need be brought into account).
2
In this Part “disposal event” means any event of a kind that requires a disposal value to be brought into account under this Part (whether under section 61(1) or otherwise).
3
If—
a
qualifying expenditure has been allocated to a pool, and
b
more than one disposal event occurs in respect of the plant or machinery,
a disposal value is required to be brought into account in the pool in connection with the first event only.
4
In subsection (3) “disposal event” does not include a disposal event arising under—
- section 72 (computer software),
- sections 140 and 143 (attribution of deferred balancing charge), or
- section 238(2) (additional VAT rebates).