These paragraphs exclude the following categories of assets:
The assets excluded from Schedule 29 by the provisions in these
paragraphs, though a lawyer may sometimes view them as types of
intangible asset, are outside the scope of FRS10/IAS38. They are
not normally, therefore, within the definition of ‘intangible
assets’ for the purposes of Schedule 29, which is founded on
accounting practice (see
CIRD11120). Why Schedule 29 does not
simply rely on FRS10/IAS38 in defining the scope of the provisions
is explained in
CIRD11035.
An interpretation of any of the provisions listed above,
therefore, is unlikely to be tenable if the effect is to exclude
from Schedule 29 an intangible asset, which as a matter of
generally accepted accounting practice is within FRS10/IAS38.
Where an asset is excluded from Schedule 29 by these
provisions, the rest of the CT code will continue to apply to any
transaction in relation to the asset without regard to the rules in
Schedule 29.
