Cryptoassets: NFT/Token Burning as a disposal

Nowhere in the HMRC guidance is burning of an NFT or token mentioned. Can anyone clarify if HMRC will treat a token or NFT burn as a disposal? Since nothing is provided in return it's reasonable to say that a burn is not considered a sale. However a burn is similar to gifting. Either way, beneficial ownership is lost during a burn which suggests that a disposal did take place. Please could somebody point me to anything with HMRCs updated thinking on such matters? Many thanks,

Hi PieUK,
You would need to consider the existing legislation within Taxation of Chargeable Gains Act 1992 (“TCGA92”).
The ""loss, destruction, dissipation or extinction"" of an asset is deemed to be a disposal by S24(1) TCGA92.
Burning a token seems to fall into that description and to that extent would constitute a disposal.
Therefore, it is possible for an allowable capital loss to arise from a disposal under TCGA 1992 s 24(1)
CG13120 - Introduction and computation: occasions of charge: assets lost/destroyed/negligible value: introduction.
Whilst you state nothing is being provided in return it is also worth signposting:
CG12965 - Capital sums derived from assets: interaction of s22 and s24 TCGA92
Which commentates on interaction of s22 and s24 TCGA92.
This covers the situation where a capital sum (money or money's worth) is received as a result of the loss or destruction of an asset.
Thank you.