Introduction Summary
1.This section amends section 45 Taxation of Chargeable Gains Act 1992 (TCGA) to ensure that the exemption for wasting assets is only available for assets used as plant in a business where the asset has been used by a person as plant in their own business. This amendment has effect on or after 1 April 2015 for corporation tax purposes and on or after 6 April 2015 for capital gains tax purposes.