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Capital Allowances Act 1990
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32Ships not used in the actual trade
(1)If the ship ceases to belong to the shipowner without having in fact been brought into use for the purposes of his actual trade, then—
(a)on that event, the single ship trade shall be treated as permanently discontinued but section 25(5) and (6) shall not apply,
(b)any writing-down allowances which, by virtue of section 31, have previously been made to the shipowner or have been postponed by him shall be withdrawn; and
(c)without prejudice to the operation of section 31(7), an amount equal to any writing-down allowances withdrawn by virtue of paragraph (b) above shall be added to the shipowner’s qualifying expenditure in respect of his actual trade for the chargeable period related to that event.
(2)In this section “the shipowner”, “actual trade” and “single ship trade” have the same meanings as in section 31.
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