SCHEDULES

C1C2SCHEDULE 29Gains and losses of a company from intangible fixed assets

Annotations:
Modifications etc. (not altering text)
C1

Sch. 29 applied (with modifications) (15.8.2002) by S.I. 2002/1967, regs. 3-6

Part 2Debits in respect of intangible fixed assets

7Introduction

1

This Part provides for debits to be brought into account by a company for tax purposes in respect of—

a

expenditure on an intangible fixed asset that is written off for accounting purposes as it is incurred (see paragraph 8);

b

writing down the capitalised cost of an intangible fixed asset—

i

on an accounting basis (see paragraph 9), or

ii

on a fixed-rate basis (see paragraphs 10 and 11); and

c

the reversal of a previous accounting gain in respect of an intangible fixed asset (see paragraph 12).

2

This Part does not apply in relation to amounts brought into account in connection with the realisation of an intangible fixed asset (see Part 4).