6.1 Tangible assets contributed to the JV could include anything from land, buildings, plant and machinery to software developed by the public sector. Where such assets are incidental to the main purpose of the JV they may simply be leased or licensed to the JV through subsidiary contracts.
6.2 The public sector body should obtain separate advice on the accounting, VAT, stamp duty and other tax implications on any disposal of tangible assets into a joint venture and the consequences on exiting the joint venture.
6.3 The remainder of this Chapter focuses on those situations where the purpose of the JV is the leverage of long term value from the assets or the commercialisation of the assets themselves. Particular focus is given to land and property assets although many of the principles will apply to other classes of tangible assets.