CTA09/PART8/S806

This provision excludes ‘financial assets’, which are defined as financial assets for accounting purposes. The paragraph goes on to set out a non-exhaustive list of assets to be regarded as financial assets.

FRS102

A financial asset is defined in the FRS102 Glossary as any asset that is:

cash;

an equity instrument of another entity;

a contractual right: (i) to receive cash or another financial asset from another entity, or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or

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