Section 806 Financial assets

United Kingdom

(1)

This Part does not apply to financial assets.

(2)

In this Part “financial asset” has the same meaning as it has for accounting purposes.

(3)

“Financial asset” includes—

(a)

loan relationships (see Parts 5 and 6),

(b)

derivative contracts (see Part 7),

(c)

contracts or policies of insurance or capital redemption policies,

F1(ca)

assets so far as they are derived from, or are referable to, contracts or policies of insurance or capital redemption policies, and

(d)

rights under a collective investment scheme within the meaning of FISMA 2000 (see section 235 of that Act).

Annotations

F1: S. 806(3)(ca) inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 175

C1: Pt. 8 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 6(1)
C2: Pt. 8 modified (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 601, 1184(1) (with Sch. 2)
C3: Pt. 8 modified (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 2 para. 6(1); S.I. 2011/2329, art. 3
C4: Pt. 8 modified (15.11.2011 for specified purposes, 30.3.2012 for E.W.) by Localism Act 2011 (c. 20), ss., 240(5)(o), Sch. 24 para. 1(3); S.I. 2012/628, art. 3(b)
C5: Pt. 8 modified (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 4 para. 3(1); S.I. 2011/2576, art. 5
C6: Pt. 8 modified (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 88(1)(2)(7) (with s. 147, Sch. 17)
C7: Pt. 8 modified (6.4.2020) by Finance Act 2019 (c. 1), Sch. 5 paras. 35, 45 (with Sch. 5 para. 36)