SCHEDULES

SCHEDULE 29Gains and losses of a company from intangible fixed assets

Part 10Excluded assets

75Assets entirely excluded: financial assets

1

This Schedule does not apply to financial assets.

2

“Financial asset” here has the meaning it has for accounting purposes.

3

The expression includes—

a

money debts within the meaning of Chapter 2 of Part 4 of the Finance Act 1996 (c. 8) (loan relationships) (see section 81(2) of that Act),

b

qualifying contracts within Chapter 2 of Part 4 of the Finance Act 1994 (c. 9) (financial instruments) (see sections 147 to 148 of that Act),

c

contracts or policies of insurance or capital redemption policies, and

d

rights under a collective investment scheme within the meaning of the Financial Services and Markets Act 2000 (c. 8) (see section 235 of that Act).