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HMRC internal manual

Capital Allowances Manual

From
HM Revenue & Customs
Updated
, see all updates

MEA: Second-hand assets: assets derived from previous trader

Where the buyer’s asset is derived from one or more assets of the previous trader, the buyer’s qualifying expenditure is determined by reference to just and reasonable apportionments of both:

  • the previous trader’s qualifying expenditure,

and

 

  • any balancing allowances given to or balancing charges made on the previous trader.