Corporation Tax Act 2009 section 900J

Fungible assets: general

Section 900J explains how fungible assets are treated for the purposes of the intangible fixed assets rules in Part 8, and defines what "fungible assets" means.

• Fungible assets are assets that can be dealt in without needing to identify the specific individual asset involved — for example, carbon credits of the same type or standardised certificates
• Where a person holds fungible assets of the same kind in the same capacity, those assets are treated as indistinguishable parts of a single asset rather than as separate individual assets
• That single pooled asset is treated as growing whenever additional assets of the same kind are created or acquired
• The single pooled asset is treated as diminishing whenever some of the assets are realised or disposed of