CG13144 - Assets lost/destroyed/negligible value: negligible value

If, however, there is no likelihood that the asset will be recovered, a negligible value claim, TCGA92/S24 (2), see CG13121+, would be competent. This would not apply where the loss has been covered by insurance etc, see CG12940+. In those circumstances we would regard the charge under TCGA92/S22 (1) as overriding the claim under Section 24(2).