Corporation Tax Act 2010 section 885

Relevant asset

Section 885 defines what counts as a "relevant asset" for the purposes of this Chapter of the Corporation Tax Act 2010.

• A "relevant asset" means any type of property or rights, but specifically excludes land and interests in land.
• The term "relevant asset" replaces the older term "asset" used in previous legislation, to make it clearer that land is not included.
• Examples of relevant assets include intellectual property, shares, contractual rights, equipment, and other non-land property.
• This definition applies throughout the Chapter and is important for determining which assets fall within the scope of the rules.