C1C2C3C4C5C6Part 8Intangible fixed assets
Pt. 8 modified (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 601, 1184(1) (with Sch. 2)
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
Pt. 8 modified (15.11.2011 for specified purposes, 30.3.2012 for E.W.) by Localism Act 2011 (c. 20), ss., 240(5)(o), Sch. 24 para. 1(3); S.I. 2012/628, art. 3(b)
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
Chapter 7Roll-over relief in case of realisation and reinvestment
How the relief is given
761Declaration of provisional entitlement to relief
1
A company realising an intangible fixed asset may make a declaration of provisional entitlement to relief under this Chapter.
2
While the declaration continues in force, this Chapter applies as if the conditions for relief under this Chapter were met.
3
A declaration of provisional entitlement is a declaration by the company, in its company tax return for the accounting period in which the realisation takes place, that the company—
a
has realised an intangible fixed asset,
b
proposes to meet the conditions for relief under this Chapter, and
c
accordingly is provisionally entitled to relief of a specified amount.
4
A declaration of provisional entitlement ceases to have effect if or to the extent that—
a
it is withdrawn, or
b
it is superseded by a claim for relief under this Chapter.
5
So far as not previously withdrawn or superseded, a declaration of provisional entitlement ceases to have effect 4 years after the end of the accounting period in which the realisation took place.
6
If a declaration of provisional entitlement ceases to have effect, in whole or in part, all necessary adjustments must be made, by assessment or otherwise.
7
Subsection (6) applies despite any limitation on the time within which assessments or amendments may be made.
Pt. 8 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 6(1)