C1C2Part 8Intangible fixed assets

Annotations:
Modifications etc. (not altering text)
C2

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.