IntroductoryU.K.
800IntroductionU.K.
(1)This Chapter provides for the exclusion from this Part of certain assets.
(2)This Chapter provides for 3 kinds of exclusion—
(a)assets within sections 803 to 809 are wholly excluded from this Part,
(b)assets within sections 810 to 813 are excluded from this Part except as respects royalties, and
(c)assets within [F1any of sections 814 to 816A] are excluded from this Part to the extent specified in [F2the section concerned].
(3)For further rules about the exclusion of assets from this Part, see—
(a)Chapter 16 (pre-FA 2002 assets etc), F3...
F3(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Words in s. 800(2)(c) substituted (with effect in accordance with s. 33(9)(10) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 33(4)(a)
F2Words in s. 800(2)(c) substituted (with effect in accordance with s. 33(9)(10) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 33(4)(b)
F3S. 800(3)(b) and the word immediately preceding it omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 174
801Right to dispose of or acquire excluded asset also excludedU.K.
So far as an asset of any description is excluded from this Part by this Chapter, an option or other right to acquire or dispose of an asset of that description is similarly excluded.
802Effect of partial exclusionU.K.
(1)If because of any of sections 803 to 815 an asset is excluded to the extent that—
(a)it represents particular rights,
(b)it is an asset of a particular description,
(c)it is held for particular purposes, or
(d)it represents expenditure of a particular kind,
this Part applies as if there were a separate asset representing so much of the asset as is not so excluded.
(2)The other provisions of the Corporation Tax Acts apply as if there were a separate asset representing so much of the asset as is excluded.
(3)Any apportionment necessary for the purposes of this section must be made on a just and reasonable basis.