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If on a part-disposal a person makes an election under TCGA92/SCH2/PARA17, see CG15500+, the allowable cost for such purposes is the market value of the asset on the deemed reacquisition at 6 April 1965. If this new allowable cost is not less than the ‘small� receipt, the provisions in CG12820, take effect and the receipt should be deducted in full from the new cost. Even though there is no longer a part-disposal, the election under paragraph 17 Schedule 2 is binding on any future disposal of the asset, see CG15532.