Assets | Croner-i Tax and Accounting

Acquisitions

– see Disposals and acquisitions

Associated

Allowable expenditure

Legislation/Regulatory – OTA83 Sch. 1

Remote, restriction of relief

Legislation/Regulatory – OTA83 Sch. 1, para. 2

Benefits-in-kind

– see Employee benefits

British Gas Corporation

Legislation/Regulatory – FA82 s. 147

Brought-in

Legislation/Regulatory – OTA83 Sch. 1, para. 7, Sch. 2, para. 9

Business

– see Business assets

Capital sums derived from

– see Capital sums derived from assets

Chargeable assets

Commentary – Tax Reporter ¶508-400

HMRC Guidance – CG76901

Chargeable gains

– see Chargeable gains

Chattel exemption

Commentary – Tax Reporter ¶509-050

HMRC Guidance – CG76870 ; CG76881 ; CG76900 ; CG76901 ; CG76905

Choses in action

Commentary – Tax Reporter ¶508-050

HMRC Guidance – CG12060

Case Law – Davis (H.M. Inspector of Taxes) v. Powell ; Marren (H.M. Inspector of Taxes) v. Ingles Marren (H.M. Inspector of Taxes) v. Linnell Gordon (H.M. Inspector of Taxes) v. Winton ; Marson (H.M. Inspector of Taxes) v. Marriage ; O'Brien (H.M. Inspector of Taxes) v. Benson's Hosiery (Holdings) Ltd.

Commodities

– see Commodity futures

Compulsory purchase

– see Compulsory acquisition of land

Consideration, deferred

Commentary – Tax Reporter ¶508-100

Case Law – Marren (H.M. Inspector of Taxes) v. Ingles Marren (H.M. Inspector of Taxes) v. Linnell Gordon (H.M. Inspector of Taxes) v. Winton ; Marson (H.M. Inspector of Taxes) v. Marriage

Contributions represented by

Asset-backed contributions

Commentary – 2.17.3

General rule

Commentary – 2.17.1

Permitted eligible shares

Commentary – 2.17.2

Corporate bonds

– see Qualifying corporate bonds (QCBs)

Created assets

Commentary – Tax Reporter ¶508-050

HMRC Guidance – CG12060

Death

– see Estates in administration

Debts

– see Debts

Dedicated mobile

Legislation/Regulatory – OTA83 s. 2, Sch. 2, para. 8

Deferred consideration

Commentary – Tax Reporter ¶508-100

Case Law – Marren (H.M. Inspector of Taxes) v. Ingles Marren (H.M. Inspector of Taxes) v. Linnell Gordon (H.M. Inspector of Taxes) v. Winton ; Marson (H.M. Inspector of Taxes) v. Marriage

Definition

Commentary – Tax Reporter ¶508-000 ; Tax Reporter ¶712-575

Derived from other assets

– see Assets derived from other assets

Determination of use of

Legislation/Regulatory – OTA75 Sch. 4, para. 8

Disposal of

– see Capital gains tax

Disposals

– see Disposals and acquisitions

Distributions

– see Distributions

Enquiries, statement of

Commentary – Tax Reporter ¶185-895 ; Tax Reporter ¶185-905

Exempt assets

Commentary – Tax Reporter ¶508-400

HMRC Guidance – CG76901

Expenditure on acquisition of

Legislation/Regulatory – CTA2010 s. 356CAA

Export

– see Restrictions on transactions

Financial futures

– see Financial futures and options

Foreign

Legislation/Regulatory – ESC F6

Foreign currency

Commentary – Tax Reporter ¶591-250

HMRC Guidance – CG78315

Free use of

– see Free loans

Generally

Commentary – Tax Reporter ¶508-000

Goodwill

– see Goodwill

Held on 31 March 1982

– see Assets held on 31 March 1982

Held on 6 April 1965

– see also Assets held on 6 April 1965

Generally

Commentary – Quick Overview ¶14950

Incorporeal property

Commentary – Tax Reporter ¶508-050

HMRC Guidance – CG12060

Case Law – Davenport (H.M. Inspector of Taxes) v. Chilver. [1983] BTC 223 ; Davis (H.M. Inspector of Taxes) v. Powell ; Marren (H.M. Inspector of Taxes) v. Ingles Marren (H.M. Inspector of Taxes) v. Linnell Gordon (H.M. Inspector of Taxes) v. Winton ; Marson (H.M. Inspector of Taxes) v. Marriage ; O'Brien (H.M. Inspector of Taxes) v. Benson's Hosiery (Holdings) Ltd.

Industrial and provident societies

Commentary – Tax Reporter ¶805-490

Intangible

– see Intangible fixed assets

Intangible fixed assets of companies

– see Intangible fixed assets

Interest in land

– see Interest in land; Land and buildings

Land

– see Interest in land; Land and buildings

Leased

– see also Leased assets

Plant and machinery

– see Leased plant and machinery

Property other than land

Commentary – Tax Reporter ¶508-350

Leaving the UK, exit charges

Commentary – Quick Overview ¶14510

Lloyd's underwriters

– see Lloyd's underwriters

Locality

– see Locality of assets

Long-life

– see Long-life assets

Long-term

Allowance of expenditure

– see Allowable expenditure

Destruction, insurance in case of

Legislation/Regulatory – OTA75 Sch. 4, para. 7

Disposal of

Legislation/Regulatory – FA80 Sch. 17, para. 19 ; OTA75 Sch. 4, para. 4

Expenditure incurred on

Legislation/Regulatory – OTA83 s. 3

HMRC Guidance – OT11350 ; OT14610

Loss, insurance in case of

Legislation/Regulatory – OTA75 Sch. 4, para. 7

Meaning

Legislation/Regulatory – OTA75 s. 3(8)

Part non-field use, partial allowance where

Legislation/Regulatory – OTA75 s. 4(11)

Tariff receipts, giving rise to, apportionment of expenditure

Legislation/Regulatory – OTA75 s. 3(7)

Lost/destroyed

Commentary – Tax Reporter ¶515-100 ; Tax Reporter ¶524-150

HMRC Guidance – CG12965 ; CG13155

Market value

Determination, appeals

Commentary – Tax Reporter ¶190-440 ; Tax Reporter ¶190-465

HMRC Guidance – CG16470

Valuation

– see Valuation

Meaning

Legislation/Regulatory – ICTA88 Sch. 21, para. 1(1)

Mobile

Becoming dedicated assets

Legislation/Regulatory – OTA83 Sch. 1, para. 9

Dedicated

Legislation/Regulatory – OTA83 s. 2

Non-dedicated

Legislation/Regulatory – FA93 s. 190 ; OTA83 s. 1

National, scientific, historic or artistic interest

Gifts of pre-eminent property to the nation

Commentary – Tax Reporter ¶535-620

Nature of

Commentary – Tax Reporter ¶508-000

Negligible value

– see also Negligible value shares

Generally

Commentary – Tax Reporter ¶515-150 ; Tax Reporter ¶524-200

HMRC Guidance – CG13125

New, cessation of use in connection with taxable filed

Legislation/Regulatory – OTA83 Sch. 1, para. 8

No longer used in principal field

Legislation/Regulatory – OTA83 Sch. 1, para. 3

Non-chargeable assets

Commentary – Tax Reporter ¶508-400

HMRC Guidance – CG76901

Options

– see Options

Partnerships

– see also Partnerships

Capital gains tax

Legislation/Regulatory – SP D12

Let to

Legislation/Regulatory – SP D11

PAYE

– see PAYE

Property created, not acquired

Commentary – Tax Reporter ¶508-200

Qualifying

Legislation/Regulatory – FA99 s. 98 ; OTA83 s. 8

Re-use of

Legislation/Regulatory – FA2009 Sch. 41, Pt. 1 ; OTA75 s. 3(1DA)-(1DC) ; OTA83 s. 6(4A), (4B), Sch. 1, para. 8(2A)-(2C)

Replacement

– see Roll-over relief

Right to payment

Commentary – Tax Reporter ¶508-150

Case Law – Davis (H.M. Inspector of Taxes) v. Powell

Sale of asset used for business and private purposes

Commentary – Indirect Tax Reporter ¶10-610

Settlements, interaction of taxes

Legislation/Regulatory – SP 1/82

Shares and securities

– see Shares and securities

Short-life

– see Short-life assets

Situs

– see Locality of assets

Statements of

Commentary – Tax Reporter ¶185-895 ; Tax Reporter ¶185-905

Statutory compensation

Commentary – Tax Reporter ¶508-150

Case Law – Davis (H.M. Inspector of Taxes) v. Powell

Sterilisation of, amounts received for

Commentary – Tax Reporter ¶220-300 ; Tax Reporter ¶708-670

Case Law – BURMAH STEAM SHIP COMPANY, LIMITED v. THE COMMISSIONERS OF INLAND REVENUE. ; Beveridge v Ellam (HMIT) ; Crabb (H.M. Inspector of Taxes) v. Blue Star Line, Ltd. ; ENSIGN SHIPPING CO., LTD. v. THE COMMISSIONERS OF INLAND REVENUE. ; THE GLENBOIG UNION FIRECLAY CO., LTD. v. THE COMMISSIONERS OF INLAND REVENUE.

Tangible movable property

Commentary – Tax Reporter ¶509-050

HMRC Guidance – CG76870 ; CG76881 ; CG76900 ; CG76901 ; CG76905

Tariff receipts, giving rise to

Legislation/Regulatory – FA88 s. 139 ; OTA75 s. 3(5A)

Trading stock

– see Trading stock

Transfer

– see Transfer of business assets; Transfer of business as a going concern (TOGCs)

Transfer abroad

– see Transfer of assets abroad

Transferred abroad

– see Transfer of assets abroad

Two or more fields, acquired for

Legislation/Regulatory – OTA83 Sch. 1, para. 5, 6

Value shifting

– see Value shifting

Vehicles

Commentary – Tax Reporter ¶508-400

HMRC Guidance – CG76901

Vesting of

– see Winding up

Wasting

– see Wasting assets