Section 63 | Cases in which disposal value is nil
From legislation.gov.uk
(1)If a person disposes of plant or machinery by way of gift in circumstances such that there is a charge to tax under , the disposal value of the plant or machinery is nil.F1
(2)If a person carrying on a relevant qualifying activity makes a gift of plant or machinery used in the course of the activity—
(a)to a charitable trust ...,F2F3
(aa)to a charitable company ...,F4F5
(ab)to a registered club within the meaning of (community amateur sports clubs),F4
(b)to a body listed in (various heritage bodies and museums), orF6
(c)for the purposes of a designated educational establishment within the meaning of or (gifts to educational establishments),F7F8
the disposal value of the plant or machinery is nil.
(3)In subsection (2) “relevant qualifying activity” means a qualifying activity consisting of—
(a)a trade,
(b)a UK property business,F9F10F11
(c)RepealedF12
(d)an ... overseas property business, ...F13F14F15
(da)... orF16
(e)a profession or vocation.
(4)Subsection (2) —F17
(a)needs to be read with and (which provide for a charge to tax if subsection (2) applies in circumstances in which the donor or a connected person receives a benefit attributable to the gift), andF17F18F19F20
(b)is subject to sections and of ITA 2007 and sections and of CTA 2010 (removal of tax relief in respect of tainted charity donations etc).F20F21F22
(5)If expenditure is treated under (expenditure on thermal insulation, safety measures, etc.) as having been incurred on plant or machinery, the disposal value of the plant or machinery is nil.