SCHEDULES
C1SCHEDULE 29Gains and losses of a company from intangible fixed assets
Annotations:
Modifications etc. (not altering text)
Part 13Supplementary provisions
110Asset becoming chargeable intangible asset
1
This paragraph applies where an asset becomes a chargeable intangible asset in relation to a company—
a
on the company becoming resident in the United Kingdom, or
b
in the case of a company that is not resident in the United Kingdom, on beginning to be held for the purposes of a trade carried on by it in the United Kingdom through a F1permanent establishment, or
c
on the asset ceasing to be held for the purposes of a mutual trade or business.
2
Where this paragraph applies this Schedule has effect as if the company had acquired the asset, immediately after it became a chargeable intangible asset in relation to the company, for its accounting value at that time.
Sch. 29 applied (with modifications) (15.8.2002) by S.I. 2002/1967, regs. 3-6