Page 18 - F6 - Capital Allowances - Part 3

Alienation, Loss/Destruction Allowance s11(o)

 Asset alienated, lost/destroyed

Transfer AND Involuntary
ownership

 Useful life of asset ≤ 10 years

AND From date of

acquisition

 Not sold to a connected person

S11(o) = Cost of asset less (proceeds + allowances

claimed)

ONLY IF: Elected by the taxpayer

(If not elected will result in a capital loss for CGT)