Corporation Tax Act 2009

General rule U.K.

882 Application of this Part to assets created or acquired on or after 1 April 2002 U.K.

(1) The general rule is that this Part applies only to intangible fixed assets of a company (“the company”) that—

(a) are created by the company on or after 1 April 2002,

(b) are acquired by the company on or after that date from a person who at the time of the acquisition is not a related party in relation to the company, or

(c) are acquired by the company on or after that date in case A, B or C from a person who at the time of the acquisition is a related party in relation to the company.

(2) For provisions explaining when assets are treated as created or acquired, see sections 883 to 889.

(3) Case A is where the asset is acquired from a company in relation to which the asset was a chargeable intangible asset immediately before the acquisition.

(4) Case B is where the asset is acquired from a person (“the intermediary”) who acquired the asset on or after 1 April 2002 from a third person—

(a) who was not at the time of the intermediary's acquisition a related party in relation—

(i) to the intermediary, or

(ii) if the intermediary was not a company, to a company in relation to which the intermediary was a related party, and

(b) who is not, at the time of the acquisition by the company, a related party in relation to the company.

(5) Case C is where the asset was created on or after 1 April 2002 by the person from whom it is acquired or any other person.

(6) The general rule in subsection (1) is subject to—

(a) section 890 (fungible assets: application of section 858),

(b) section 892 (certain assets acquired on transfer of a business),

(c) section 893 (assets whose value derives from pre-FA 2002 assets),

(d) section 895 (assets acquired in connection with disposals of pre-FA 2002 assets),

(e) section 897 (application to pre-FA 2002 assets consisting of telecommunication rights),

(f) sections 898 and 899 (application of roll-over relief in relation to some pre-FA 2002 assets), and

(g) section 905 (pre-FA 2002 assets: Lloyd's syndicate capacity).

(7) This section does not restrict the application of this Part in accordance with section 896 (application to royalties) (but see section 896(3)).

Modifications etc. (not altering text)

C1 Pt. 8 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 6(1)

C2 Pt. 8 modified (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 2 para. 6(1); S.I. 2011/2329, art. 3

C3 Pt. 8 modified (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 4 para. 3(1); S.I. 2011/2576, art. 5

C4 S. 882 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 6(3)

C5 S. 882 modified (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 2 para. 6(3); S.I. 2011/2329, art. 3

C6 S. 882 modified (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 4 para. 3(3); S.I. 2011/2576, art. 5