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On a part disposal of an asset or an interest in an asset, the allowable expenditure in computing the chargeable gain or loss is found by applying a statutory part disposal formula to the allowable expenditure in respect of the entire interest before the disposal (see C2.402), excluding any expenditure attributable exclusively to the part disposed of or the part retained (see C2.403). For the meaning of allowable expenditure, see C2.201.

As discussed at C2.1102, these rules generally apply to a part disposal of land or an interest in land, subject to certain exceptions. This article discusses one of the exceptions, where there is a 'small' part disposal of land. See C2.1117 for small part disposals of land to an authority under compulsory purchase.

A part disposal of a holding of land is not treated as a disposal if the transferor so claims¹ and the following conditions are satisfied²:

1. Ìý

   (a)ÌýÌýÌýÌý the amount or value of the consideration is not more than 20% of the market value