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United Kingdom
United Kingdom
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Fixed assets definition What does Fixed assets mean? In legal and transactional practice, fixed assets are the long-term resources of a company—such as land and buildings, plant and machinery, office equipment, vehicles and certain intangibles—held for continuing use in the business to generate profits, rather than for resale. The term is descriptive and used across company law, finance and insolvency. In statutory accounts, the Companies Act 2006 (UK) and Companies Act 2014 (Ireland) balance sheet formats refer to fixed assets, typically analysed as intangible assets, tangible assets and investments. Under UK and Irish GAAP (FRS 102) and IFRS, the parallel concept is non-current assets or property,...
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Intangible fixed assets groups under the UK Corporation Tax Act 2009 Part 8: definitions, 75% and effective 51% subsidiaries, principal companies, membership tests, and continuity on takeovers and winding-up
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Practice notes
Under Part 8 of the Corporation Tax Act 2009 (CTA 2009), the overarching position within the corporate intangible assets regime is that a company’s gains and losses on intangible fixed assets (IFAs) are determined and recognised as corporation tax credits and debits in accordance with the accounting treatment of those IFAs. Put simply, the company’s accounts, drawn up under generally accepted accounting practice (GAAP), form the starting point for establishing the taxable and relievable amounts relating to the company’s IFAs. This is commonly described as ‘tax following the accounts’. Nonetheless, there are a number of departures from this rule, where the corporate intangible assets legislation overrides the accounts and stipulates that IFA credits and debits must be worked out on an alternative basis. For broader guidance on the taxation of IFAs, see Practice Note: How intangible fixed assets are taxed—basic principles. A notable situation where the tax rules may move away from reliance on the company’s accounting results is where an IFA is moved between entities within the same group (an IFA group) when considered for corporation tax purposes under these particular rules only...
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Web page updated on 21/05/2026
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Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...
I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...
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