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Capital allowances: Will the transfer be at written down value or will a balancing allowance be triggered?

Question:
I am a taxpayer who is using assets in a self-employed business for which capital allowances have been claimed. If I move to employment and continue to use the same assets, can the transfer from one to the other be at written down value, or will a balancing allowance be triggered? 

Arthur Weller replies: 
Strictly speaking, open market value should be used for the transfer, so that balancing allowances or charges result. However, since employees can claim capital allowances for equipment they provide for use in their work, and this is a transfer between connected persons, an election can be made to use the tax written down value instead.

I am a taxpayer who is using assets in a self-employed business for which capital allowances have been claimed. If I move to employment and continue to use the same assets, can the transfer from one to the other be at written down value, or
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This question was first printed in Business Tax Insider in September 2017.