{"id":10070,"date":"2024-02-01T04:00:00","date_gmt":"2024-02-01T04:00:00","guid":{"rendered":"im-26449"},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T00:00:00","slug":"capital-sums-derived-from-assets","status":"publish","type":"post","link":"https:\/\/www.oneaccounting.co.uk\/capital-sums-derived-from-assets\/","title":{"rendered":"Capital sums derived from assets"},"content":{"rendered":"<p style=\"margin-left:.4pt\">HMRC&rsquo;s guidance is clear that where a capital sum is derived from an asset, the relevant legislation treats the owner as having made a disposal for capital gains purposes.<\/p>\n<p style=\"margin-left:.4pt\">The legislation contained in s22 TCGA92 states that there is:<\/p>\n<p style=\"margin-left:.4pt\"><em>&ldquo;&hellip;..a disposal of assets by their owner where any capital sum is derived from assets notwithstanding that no asset is acquired by the person paying the capital sum&hellip;..&rdquo;<\/em><\/p>\n<p style=\"margin-left:.4pt\">There are occasions when a person may receive a capital sum even though a natural disposal of an asset has not occurred, for example, on receiving compensation for damage to an asset or a sum of money from another person for the right to use or exploit an asset.<\/p>\n<p>HMRC&rsquo;s internal manual states that as the word &lsquo;disposal&rsquo; is not expressly defined in TCGA92 it must be given its normal everyday meaning. Therefore, disposals for capital gains purposes include natural disposals and part disposals of assets.<\/p>\n<div style='font-size:smaller' class='im_source'>Source: HM Revenue &#038; Customs   Tue, 30 Jan 2024 00:00:00 +0100<\/div>\n","protected":false},"excerpt":{"rendered":"<p>HMRC\u2019s guidance is clear that where a capital sum<\/p>\n","protected":false},"author":1,"featured_media":10071,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[147],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Capital sums derived from assets - One Accounting<\/title>\n<meta name=\"description\" content=\"HMRC\u2019s guidance is clear that where a capital sum\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.oneaccounting.co.uk\/capital-sums-derived-from-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital sums derived from assets - 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