SCHEDULES

SCHEDULE 29Gains and losses of a company from intangible fixed assets

Part 3Credits in respect of intangible fixed assets

Negative goodwill

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(1)

Where in a period of account a gain is recognised in F1determining the company's profit or loss in respect of negative goodwill arising on an acquisition of a business, a corresponding credit shall be brought into account for tax purposes.

(2)

The amount of the credit is so much of the gain recognised for accounting purposes as, on a just and reasonable apportionment, is attributable to intangible fixed assets.