Valid from 01/04/2009
Application of Part to royalties and telecommunication rightsU.K.
896Application to royaltiesU.K.
(1)This Part—
(a)applies to royalties recognised for accounting purposes on or after 1 April 2002, and
(b)does not apply to royalties recognised for accounting purposes before that date.
(2)But subsection (1) is subject to subsection (3).
(3)This section does not authorise or require an amount to be brought into account in connection with the realisation of a pre-FA 2002 asset.
(4)In this section “realisation” has the same meaning as in Chapter 4 (see section 734).
897Application to pre-FA 2002 assets consisting of telecommunication rightsU.K.
(1)This Part applies to a pre-FA 2002 asset consisting of a licence or other right within Chapter 10 of Part 2 of ITTOIA (certain telecommunication rights) (see section 146 of that Act).
(2)This Part applies in relation to such assets as if amounts brought into account for tax purposes under Schedule 23 to FA 2000 in accounting periods ending before 1 April 2002 had been so brought into account under this Part.
(3)This subsection applies if the asset—
(a)was acquired before the beginning of the first accounting period ending on or after 1 April 2002, and
(b)was a chargeable intangible asset immediately after the beginning of that period.
(4)If subsection (3) applies, the asset is treated for the purposes of Chapter 7 (roll-over relief on realisation and reinvestment) as if it had been a chargeable intangible asset at all material times between its acquisition and the beginning of the first accounting period ending on or after 1 April 2002.