- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (01/04/2022)
- Gwreiddiol (Fel y'i Deddfwyd)
Point in time view as at 01/04/2022.
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(1)Part 8 of CTA 2009 (intangible fixed assets) is amended as follows.
(2)In section 712(1) (meaning of “intangible asset”), insert at the end “ (and includes an internally-generated intangible asset) ”.
(3)In section 715 (application of Part 8 to goodwill)—
(a)in subsection (3), insert at the end “(and includes internally-generated goodwill)”, and
(b)insert at the end—
“(4)For the purposes of this Part, goodwill is treated as created in the course of carrying on the business in question.”
(4)In section 883 (assets treated as created or acquired when expenditure incurred)—
(a)in subsection (1), for paragraph (b) substitute—
“(b)has effect subject to the provisions specified in subsection (2).”,
(b)in subsection (2)(a), omit “internally-generated”,
(c)in subsection (2)(b), for “certain other internally-generated assets” substitute “ assets representing non-qualifying expenditure ”, and
(d)in subsection (3), omit “to which this section applies”.
(5)In section 884 (internally-generated goodwill: time of creation)—
(a)omit “internally-generated”,
(b)for the words from “before” to the end substitute “—
(a)before (and not on or after) 1 April 2002 in a case in which the business in question was carried on at any time before that date by the company or a related party, and
(b)on or after 1 April 2002 in any other case.”, and
(c)in the heading, omit “Internally-generated”.
(6)In section 885 (certain other internally-generated assets: time of creation)—
(a)in subsection (1)(b), omit “internally-generated”,
(b)in subsection (7), for the words from “before” to the end substitute “—
(a)before (and not on or after) 1 April 2002 in a case in which the asset in question was held at any time before that date by the company or a related party, and
(b)on or after 1 April 2002 in any other case.”, and
(c)in the heading, for “Certain other internally-generated assets” substitute “ Assets representing non-qualifying expenditure ”.
(7)The amendments made by this section have effect in relation to accounting periods beginning on or after 22 April 2009 (and, in relation to those accounting periods, are to be treated as always having had effect).
(8)For the purposes of subsection (7) an accounting period beginning before, and ending on or after, 22 April 2009 is to be treated as if so much of the period as falls before that date, and so much of the period as falls on or after that date, were separate accounting periods.
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