CG13118 - Assets lost, destroyed or of negligible value: introduction

CG12940 tells you that, for Capital Gains Tax purposes, the receipt of a capital sum which is derived from an asset is a disposal of that asset. The following paragraphs look at other events that are disposals where no capital sum, see CG12950+, is received so that an allowable loss may accrue, rather than a chargeable gain. In this connection see CG17700+ where the disposal occurs on or after 30 November 1993.