35(1)This paragraph applies to a relevant transfer of plant or machinery which is a disposal event for the purposes of Part 2 of CAA 2001 (capital allowances for plant and machinery).U.K.
(2)For the purposes of the application of section 61 of that Act (disposal events and disposal value) in relation to the transferor, the disposal value of the plant or machinery is to be treated—
(a)if a capital sum is received by the transferor by way of consideration or compensation in respect of the transfer, as an amount equal to that sum, or
(b)if no such sum is received, as nil.
(3)For the purposes of this paragraph a sum received by a person connected with the transferor is to be treated as received by the transferor.
(4)Section 88 of CAA 2001 (sales at an undervalue) is to be disregarded.
(5)This paragraph is subject to sections 63(5) and 68 of CAA 2001.