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A readily convertible asset is any of the following¹:

1. Ìý

   •ÌýÌýÌýÌý An asset capable of being sold or otherwise realised on a recognised investment exchange², the London Bullion Market, the New York Stock Exchange or on a market specified in PAYE regulations

2. Ìý

   •ÌýÌýÌýÌý An asset consisting of the rights of assignment in respect of a money debt due to an employer or any other person

3. Ìý

   •ÌýÌýÌýÌý An asset consisting of property subject to a warehousing regime³ or corresponding arrangements in another state within the European Economic Area

4. Ìý

   •ÌýÌýÌýÌý An asset consisting of anything likely (without anything being done by the employee) to give rise to, or become, a right enabling a person to obtain an amount of money which is similar to the expense of providing the asset. This would cover the creation of a reversionary interest in a trust (typically, an offshore trust) where other interests would eventually lapse

5. Ìý

   •ÌýÌýÌýÌý An asset for which trading arrangements are in existence, or