»Ê¹ÚÌåÓýapp

CAA01/S133

A ship may cease to belong to a person without it ever having been brought into use. »Ê¹ÚÌåÓýapp expenditure will have been put into a single ship pool in the normal way and it will have qualified for capital allowances from the time when it was acquired.

When a ship ceases to belong to a person without it ever being brought into use:

• the single ship qualifying activity is treated as discontinued and a disposal value is brought to account in the normal way CA23240;
• any writing-down allowances which have been made to the person or postponed are withdrawn; and
• an amount equal to the allowances withdrawn is added to the appropriate pool for the chargeable period in which the ship ceases to belong to the ship owner.

»Ê¹ÚÌåÓýapp appropriate pool is the pool that the expenditure would have been added to if the asset had been something other than a ship.