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HMRC internal manual

Capital Allowances Manual

PMA: Fixtures: Changes in ownership: Sale of an asset that is no longer a fixture

CAA01/S187B(5)

The rules do not apply where there has been a sale of an asset that is no longer a fixture at the time of sale, unless that sale is to a connected person.

Example

Jill owns a building, containing an antique copper water heater, which she strips out and sells to an architectural salvage dealer. Simon, who is not connected with Jill, buys the copper water heater from the dealer and installs it in a property he owns. Simon is not required to establish the disposal value brought into account by Jill and is not precluded from claiming allowances based on what he paid for the asset.