CG13125 - Introduction and computation: occasions of charge: assets lost/destroyed/negligible value: negligible value

If you are looking for an introduction to the main rules for making negligible value claims, please see the negligible value overview on 바카라 사이트. For Self Assessment guidance on negligible value claims and losses on share disposals, please see Helpsheet HS286, and select the year you are considering. 

 

S24(2) TCGA 1992 바카라 사이트“ Negligible value claims 

Under s24(1A) TCGA 1992, the owner of an asset may make a negligible value claim to HMRC if either condition A or condition B is met (see ). 

There is no requirement to make a claim within a specified time of the asset having become of negligible value. 

S24(1A) TCGA 1992 says that a negligible value claim may be made by the바카라 사이트¯owner of an asset. This means the asset must still exist when the negligible value claim is made. If the asset has ceased to exist then the negligible value claim will not succeed. Instead, there will have been an actual disposal under s24(1) TCGA 1992. 

The asset that is the subject of the claim needs to be of negligible value at the date of the claim바카라 사이트¯and바카라 사이트¯at the date of the deemed disposal and reacquisition (if different) (see바카라 사이트¯CG13130). 

 

Effect of a successful negligible value claim 

A successful negligible value claim simply results in the claimant being treated as if the asset that is the subject of the claim had been sold and immediately reacquired for its negligible value.  

If, as a result of a satisfactory negligible value claim, there바카라 사이트™s a capital loss, it is necessary for the claimant to notify that capital loss to HMRC in order for it to be an allowable loss. This notice needs to be given in addition to a negligible value claim, although the two things may be sent to HMRC in the same return, letter or other document.  

If you receive a claim for negligible value in respect of 

  • shares, see바카라 사이트¯CG13140바카라 사이트¯-바카라 사이트¯CG13150 

  • buildings and structures, see바카라 사이트¯CG13137 

  • partnership goodwill, see바카라 사이트¯CG28000 

  • goodwill, see바카라 사이트¯CG68080 

  • cryptoassets, see바카라 사이트¯CRYPTO22500바카라 사이트¯for individuals and바카라 사이트¯CRYPTO41450바카라 사이트¯for companies.Â