Section 900J — Corporation Tax Act 2009: Fungible assets: general

Fungible assets: general 900J 1 For the purposes of this Part—

a fungible assets of the same kind that are held by the same person in the same capacity are treated as indistinguishable parts of a single asset, b that asset is treated as growing as additional assets of the same kind are created or acquired, and c that asset is treated as diminishing as some of the assets are realised.

2 In this Part “ fungible assets ” means assets of a nature to be dealt in without identifying the particular assets involved.