156 Assets of Class 1
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

Class 1

Assets within heads A and B below.

Head A

1.     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.

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

Head A has effect subject to section 156.

Head B

Fixed 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 2

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

Class 3

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

Class 4

Goodwill.

Class 5

Milk quotas (that

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