Readily convertible assets

The meaning of ‘readily convertible asset’ is provided by ITEPA03/S702.

There are nine possibilities to consider when determining whether an asset is a readily convertible asset. Only one needs to be satisfied. The possibilities are:

(1)an asset capable of being sold or otherwise realised on a recognised investment exchange (RIE) (see EIM11901);

(2)an asset capable of being sold or otherwise realised on the London Bullion Market (see EIM11902);

(3)an asset capable of being sold or otherwise realised on the New York Stock Exchange (see EIM11903);

Want to read more?

This content requires a Croner-i Tax and Accounting subscription.

Existing subscriber? Log in

No subscription?

Contact us to discuss your requirements.