[212LBalance sheet valueU.K.
This section has no associated Explanatory Notes
(1)BSV is the balance sheet value of the relevant plant and machinery and is to be found by adding together the amounts (if any) which would be shown in respect of it in the appropriate balance sheet of C or P.
(2)For this purpose the amounts shown in the appropriate balance sheet in respect of the relevant plant or machinery are—
(a)the amounts shown in that balance sheet as the net book value (or carrying amount) in respect of it, and
(b)the amounts shown in that balance sheet as the net investment in respect of finance leases of it.
(3)If—
(a)any of the relevant plant or machinery is a fixture in any land, and
(b)the amount which falls (or would fall) to be shown in the appropriate balance sheet as the net book value (or carrying amount) of the land would include an amount in respect of the fixture,
the amount of the net book value (or carrying amount) in respect of the fixture is determined on a just and reasonable basis.
(4)If—
(a)any of the relevant plant or machinery is subject to a finance lease, and
(b)any land or asset which is not plant or machinery is subject to that lease,
the amount of the net investment in respect of the finance lease of that plant or machinery is determined on a just and reasonable basis.
(5)In this section any reference to any amount shown in the appropriate balance sheet of C or P is the amount which, assuming that a balance sheet of C or P were drawn up in accordance with subsection (6), would fall to be shown in that balance sheet.
(6)A balance sheet is drawn up in accordance with this subsection if it is drawn up in accordance with generally accepted accounting practice so as to reflect the position as at the beginning of the relevant day but adjusted to reflect the disposal of any of the relevant plant or machinery which is disposed of on the relevant day.
(7)In this section—