71U.K.In Part 10 of Schedule 29 to the Finance Act 2002 (c. 23) (excluded assets), after paragraph 73 (rights over tangible assets) insert—
“Assets entirely excluded: assets in respect of which capital allowance previously madeU.K.
73A(1)This Schedule does not apply to an intangible asset of a company in the following circumstances.
(2)The circumstances are that—
(a)the asset falls to be treated as an intangible asset in accounts of the company,
(b)in a previous period of account the asset fell to be treated as a tangible asset in accounts of the company, and
(c)an allowance under Part 2 of the Capital Allowances Act (plant and machinery allowances) was made to the company in respect of the asset on the latter basis.”.