{
  "url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-155",
  "json_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/section-155.json",
  "legislation": "ukpga/1992/12",
  "legislation_title": "Taxation of Chargeable Gains Act 1992",
  "legislation_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992",
  "path": "section/155",
  "kind": "section",
  "number": "155",
  "heading": "Relevant classes of assets.",
  "text": "The classes of assets for the purposes of section 152(1) are as follows.\nCLASS 1\nAssets within heads A and B below.\nHead A\n1Any building or part of a building and any permanent or semi-permanent structure in the nature of a building, occupied (as well as used) only for the purposes of the trade\n2 Any land occupied (as well as used) only for the purposes of the trade.\nHead A has effect subject to section 156.\nHead B\nFixed plant or machinery which does not form part of a building or of a permanent or semi-permanent structure in the nature of a building.\nCLASS 2\nShips, aircraft and hovercraft (“hovercraft” having the same meaning as in the Hovercraft Act 1968).\nCLASS 3\nSatellites, space stations and spacecraft (including launch vehicles).\nCLASS 4\nGoodwill.\nCLASS 5\nMilk quotas (that is, rights to sell dairy produce without being liable to pay milk levy or to deliver dairy produce without being liable to pay a contribution to milk levy) and potato quotas (that is, rights to produce potatoes without being liable to pay more than the ordinary contribution to the Potato Marketing Board’s fund).\nCLASS 6\nEwe and suckler cow premium quotas (that is, rights in respect of any ewes or suckler cows to receive payments by way of any subsidy entitlement to which is determined by reference to limits contained in a Community instrument).\nCLASS 7\nFish quota (that is, an allocation of quota to catch fish stocks, which derives from the Total Allowable Catches set in pursuance of Article 8(4) of Council Regulation (EEC) 3760/92 and under annual Council Regulations made in accordance with that Article, or under any replacement Community Instruments).\nCLASS 7A\nAssets within heads A and B below.\nHead A\nPayment entitlements under the single payment scheme (that is, the scheme of income support for farmers in pursuance of Title III of Council Regulation (EC) No 73/2009).\nHead B\nPayment entitlements under the basic payment scheme (that is, the scheme of income support for farmers in pursuance of Regulation (EU) No 1307/2013 of the European Parliament and of the Council).\nCLASS 8\nAssets within heads A and B below.\nHead A\nRights of a member of Lloyd’s under a syndicate within the meaning of Chapter III of Part II of the Finance Act 1993.\nHead B\nAn asset which a member of Lloyd’s is treated as having acquired by virtue of section 82 of the Finance Act 1999.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 155 inserted (27.7.1993 with effect as mentioned in s. 86(4)) by 1993 c. 34, s. 86(1)(4)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 155 added (with effect in accordance with art. 1(2) of the amending S.I.) by The Finance Act 1993, Section 86(2), (Fish Quota) Order 1999 (S.I. 1999/564), arts. 1(1), 3"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 155 inserted (with effect in accordance with art. 1(2) of the amending S.I.) by The Finance Act 1993, Section 86(2), (Single Payment Scheme) Order 2005 (S.I. 2005/409), arts. 1(1), 2"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 155 inserted (with effect in accordance with s. 61(4) of the amending Act) by Finance Act 2014 (c. 26), s. 61(2)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in s. 155 substituted (with effect in accordance with s. 37(4) of the amending Act) by Finance Act 2012 (c. 14), s. 37(1)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in s. 155 inserted (with effect in accordance with s. 61(4) of the amending Act) by Finance Act 2014 (c. 26), s. 61(3)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in s. 155 inserted (with application in accordance with s. 84(2) of the amending Act) by Finance Act 1999 (c. 16), s. 84(1)"
    },
    {
      "type": "M",
      "label": "M1",
      "text": "1968 c.59."
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Ss. 152-156 modified (16.7.1992) by 1992 c. 48, s. 77, Sch. 17 paras. 3, 7Ss. 152-156 modified (27.7.1993) by 1993 c. 37, s. 12, Sch. 2 Pt. I para. 6(2)"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "Ss. 152-160 modified (retrospective to 11.1.1994) by Finance Act 1994 (c. 9), s. 252(3), Sch. 24 para. 6(1)"
    },
    {
      "type": "C",
      "label": "C3",
      "text": "Ss. 152-156 modified (3.5.1994) by Finance Act 1994 (c. 9), Sch. 25 para. 3(2)"
    },
    {
      "type": "C",
      "label": "C4",
      "text": "S. 155 restricted (24.7.2002) by Finance Act 2002 (c. 23), Sch. 29 para. 132(5)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1992/12/section/155",
    "retrieved_at": "2026-10-29T09:36:15.270072+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}