09 February 2006
Following on from the recent question on woodland ('Back to nature', Taxation, 5 January 2006, page 350), my client has a truck which they have used for the purposes of their woodland activity.
They are going to sell the truck at a loss and they have asked me if this will then be an allowable capital loss.
Normally when such an asset is used in a business there would be no allowable loss because capital allowances would have been claimed, but they could not make such
a claim.
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