(1)Sections 30 to 33 have effect in relation to a chargeable intangible asset subject to the following modifications.
In this section “chargeable intangible asset” has the same meaning as in [F2Part 8 of CTA 2009].
(2)Any reference in those sections—
(a)to a disposal or part disposal of the asset shall be read as a reference to its realisation or part realisation within the meaning of [F3that Part (see section 734 of that Act]);
(b)to an disposal of the asset under section 171(1) shall be read as a reference to its transfer under [F4section 775 of that Act] (transfers within a group);
(c)to a disposal of the asset under section 179 shall be read as a reference to its realisation under [F5section 780 or 785 of that Act] (degrouping).
(3)In section 31(6), paragraph (c) shall not apply to a revaluation where the profit on the revaluation is wholly taken into account as a credit under [F6that Part (see section 723 of that Act]).
(4)None of the conditions in section 31(9) shall be treated as satisfied if the asset with enhanced value is a chargeable intangible asset within the meaning of [F7that Part].
(5)The reference in section 32(2)(b) to the cost of the underlying asset shall be read, in the case of a chargeable intangible asset, as a reference to the capitalised value of the asset recognised for accounting purposes.]
Textual Amendments
F1S. 33A inserted (24.7.2002) by Finance Act 2002 (c. 23), Sch. 30 para. 6
F2Words in s. 33A(1) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 361(a) (with Sch. 2 Pts. 1, 2)
F3Words in s. 33A(2)(a) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 361(b)(i) (with Sch. 2 Pts. 1, 2)
F4Words in s. 33A(2)(b) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 361(b)(ii) (with Sch. 2 Pts. 1, 2)
F5Words in s. 33A(2)(c) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 361(b)(iii) (with Sch. 2 Pts. 1, 2)
F6Words in s. 33A(3) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 361(c) (with Sch. 2 Pts. 1, 2)
F7Words in s. 33A(4) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 361(d) (with Sch. 2 Pts. 1, 2)