BKLM331325 - Chargeable equity and liabilities: excluded equity and liabilities: plant, property and equipment reserves
Paragraph 34 of Schedule 19
Property, plant and equipment can be re-valued in accordance with IAS 16 or FRS 15. The difference between the cost and new valuation may be held within equity as a revaluation reserve. Such reserves do not qualify as Tier 1 capital, and only arise in a limited number of instances where an accounting policy of revaluation is applied to such assets. In such cases, they are excluded from the bank levy base.
鈥楶roperty, plant and equipment鈥� has the meaning given to it by IAS 16.