Commentary on Sections Overview Chapter 10: Excluded assets Section 810: Mutual trade or business
2128.This section excludes, except as respects royalties, intangible fixed assets to the extent they are held for the purposes of a mutual trade or business. It is based on paragraph 79 of Schedule 29 to FA 2002.
2129.Subsection (2) is new. It gives a signpost to an exception relevant to certain insurance companies.