C1C2Part 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)
C1Chapter 16Pre-FA 2002 assets etc
When assets are treated as created or acquired
883Assets treated as created or acquired when expenditure incurred
1
This section—
a
applies for the purposes of section 882 (application of this Part to assets created or acquired on or after 1 April 2002), and
F1b
has effect subject to the provisions specified in subsection (2).
2
The provisions referred to in subsection (1)(b) are—
a
section 884 (F2... goodwill: time of creation),
b
section 885 (F3assets representing non-qualifying expenditure: time of creation), and
c
section 886 (assets representing production expenditure on films: time of creation).
3
An intangible asset F4... is treated as created or acquired on or after 1 April 2002 so far as expenditure on its creation or acquisition is incurred on or after that date.
4
As to whether expenditure on the creation or acquisition of the asset is incurred on or after 1 April 2002, see sections 887 to 889.
5
If only part of the expenditure on the creation or acquisition of the asset is incurred on or after 1 April 2002—
a
this Part applies as if there were a separate asset representing the expenditure so incurred, and
b
the alternative enactments apply as if there were a separate asset representing the expenditure not so incurred.
6
In subsection (5) “the alternative enactments” means the enactments that apply where this Part does not apply.
7
Any apportionment necessary for the purposes of subsection (5) must be made on a just and reasonable basis.
Pt. 8 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 6(1)