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When buying or selling a business, care needs to be taken that a complete inventory (including an adequate description) is provided for all plant and equipment that is subject to the sale. A seller will want to have such items sold at an agreed value, which is no more than the written down value for taxation purposes. The consequence for a sale at a higher value is that the seller will pay tax on the excess sale price over the written down value. For a buyer, the plant and equipment may be more valuable than the written down value. Some accountancy advice should be sought in respect to decisions about such figures before a contract is signed.