Valid from 01/04/2009

Part 8 U.K. Intangible fixed assets

Chapter 10 U.K. Excluded assets

Assets excluded from this Part except as respects royalties U.K.

810 Mutual trade or business U.K.

(1) Except as respects royalties, this Part does not apply to an intangible fixed asset so far as it is held for the purposes of any mutual trade or business.

(2) But see section 902(1) and (2) (which disapplies subsection (1) in relation to assets held for the purposes of life assurance business).