
Print Options
PrintThe Whole
Act
PrintThe Whole
Schedule
PrintThe Whole
Part
PrintThe Whole
Cross Heading
PrintThis
Section
only
Status:
Point in time view as at 24/07/2002.
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 1998, Paragraph 13.

Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
13(1)A notice requiring a company tax return may require details of assets acquired by the company in the period specified in the notice.U.K.
The details required may include details of the person from whom the asset was acquired and the consideration for its acquisition.
(2)The power in sub-paragraph (1) does not apply to —
(a)assets exempted by —
section 121 of the Taxation of Chargeable Gains Act 1992 (government non-marketable securities), or
section 263 of that Act (passenger vehicles); or
(b)tangible movable property, unless—
(i) the amount or value of the consideration for its acquisition exceeded £6,000, or
(ii) it is within the exceptions in section 262(6) of the Taxation of Chargeable Gains Act 1992 (terminal markets and currency); or
(c)assets acquired as trading stock, unless they are held for the purposes of [long-term] business carried on by an insurance company.
(3) In sub-paragraph (2)(c)—
“trading stock” has the meaning given by section 100(2) of the Taxes Act 1988, and
“ [long-term] business” and “insurance company” have the meaning given by section 431(2) of that Act.
Textual Amendments
Marginal Citations
Back to top