CG76550+ tell you what happens when a gain arises on the disposal of a chattel.
If the consideration, see CG76573, for the disposal of a chattel does not exceed £6,000, any loss is restricted. You do this by substituting £6,000 for the original figure of disposal consideration.
CG76613 shows you an example of this restriction.
If the consideration for the disposal of a chattel exceeds £6,000, there is no restriction to any loss.
If an asset is acquired for £6,000 or less and disposed of for a lesser amount, no allowable loss accrues on that disposal.
The £6,000 limit applies to disposals which took place on or after 6 April 1989. Lower limits applied in earlier years. For disposals between 6 April 1982 and 5 April 1989, the limit was £3,000. If you need to find out the limits which applied before 6 April 1982, you should refer to old CG3601.