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HMRC internal manual

Compliance Handbook

From
HM Revenue & Customs
Updated
, see all updates

Information & Inspection Powers: Inspection Powers: Meaning of 'business assets'

Business assets are physical items that you have reason to believe are

  • owned
  • leased, or
  • used

in connection with the carrying on of a business, see CH25200, by any person. Business assets do not include documents, see CH25280, unless those documents are trading stock or plant.

FA08/SCH36/PARA10 (3) & (4)

ITTOIA05/PART 2/S172A

CAA01/PART 2