# Capital Allowances Act 2001, Section 132: Disposal events and single ship pool


(1) A person is required to bring a disposal value into account in a single ship pool if the ship—
(a) is provided for leasing, and
(b) begins to be used otherwise than for a qualifying purpose within the first 4 years of the designated period.
(2) If any disposal event (including one under subsection (1)) occurs in relation to a single ship pool—
(a) the available qualifying expenditure in the single ship pool is allocated, for the chargeable period in which the event occurs, to the appropriate non-ship pool,
(b) the disposal value must be brought into account as a disposal value for that chargeable period in the appropriate non-ship pool, and
(c) the single ship pool ends without a final chargeable period and without any liability to a balancing charge arising.
(3) Subsections (1) and (2) apply even if, as a result of an election under section 129, some of the qualifying expenditure on the provision of the ship has been allocated to the appropriate non-ship pool.
(4) In subsection (1) “leasing”, “qualifying purpose” and “designated period” have the same meaning as in Chapter 11 (overseas leasing).

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Source: https://www.legislation.gov.uk/ukpga/2001/2/section/132 (the official version)
Page: https://openlegislation.uk/capital-allowances-act-2001/section-132
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.