Section 155 | Relevant classes of assets.

The classes of assets for the purposes of section 152(1) are as follows.^{F1F2F3F4F5F6F7}

CLASS 1Assets within heads A and B below.

Head AHead A has effect subject to section 156.

Any building or part of a building and any permanent or semi-permanent structure in the nature of a building, occupied (as well as used) only for the purposes of the trade

Any land occupied (as well as used) only for the purposes of the trade.

Head BFixed plant or machinery which does not form part of a building or of a permanent or semi-permanent structure in the nature of a building.

CLASS 2Ships, aircraft and hovercraft (“hovercraft” having the same meaning as in the Hovercraft Act 1968).

CLASS 3Satellites, space stations and spacecraft (including launch vehicles).

CLASS 4Goodwill.

CLASS 5Milk quotas (that is, rights to sell dairy produce without being liable to pay milk levy or to deliver dairy produce without being liable to pay a contribution to milk levy) and potato quotas (that is, rights to produce potatoes without being liable to pay more than the ordinary contribution to the Potato Marketing Board’s fund).

CLASS 6Ewe and suckler cow premium quotas (that is, rights in respect of any ewes or suckler cows to receive payments by way of any subsidy entitlement to which is determined by reference to limits contained in a Community instrument).

CLASS 7 Fish quota (that is, an allocation of quota to catch fish stocks, which derives from the Total Allowable Catches set in pursuance of Article 8(4) of Council Regulation (EEC) 3760/92 and under annual Council Regulations made in accordance with that Article, or under any replacement Community Instruments).

CLASS 7A Assets within heads A and B below.

Head APayment entitlements under the single payment scheme (that is, the scheme of income support for farmers in pursuance of Title III of Council Regulation (EC) No 73/2009).

Head B Payment entitlements under the basic payment scheme (that is, the scheme of income support for farmers in pursuance of Regulation (EU) No 1307/2013 of the European Parliament and of the Council).

CLASS 8 Assets within heads A and B below.

Head ARights of a member of Lloyd’s under a syndicate within the meaning of Chapter III of Part II of the Finance Act 1993.

Head BAn asset which a member of Lloyd’s is treated as having acquired by virtue of section 82 of the Finance Act 1999.