Corporation Tax Act 2009

883 Assets 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

(b) applies to all intangible assets except those to which the provisions specified in subsection (2) apply.

(2) The provisions referred to in subsection (1)(b) are—

(a) section 884 (internally-generated goodwill: time of creation),

(b) section 885 (certain other internally-generated assets: time of creation), and

(c) section 886 (assets representing production expenditure on films: time of creation).

(3) An intangible asset to which this section applies 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.