Paragraph 39 Other assets that may be included at fair valueF1
(1)
This paragraph applies to—
(a)
stocks,
(b)
investment property, and
(c)
living animals and plants.
(2)
Stocks, investment property, and living animals and plants may be included at fair value, provided that, as the case may be, all such stocks, investment property, and living animals and plants are so included where their fair value can reliably be determined.
(3)
In this paragraph “fair value” means fair value determined in accordance with generally accepted accounting principles or practice.
Annotations
Textual amendments
- F1
Sch. 1 Pt. 2 Section D para. 39 substituted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 40(b)