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
C1C3C5Chapter 16Pre-FA 2002 assets etc
Assets treated as pre-FA 2002 assets
893Assets whose value derives from pre-FA 2002 assets
1
This section applies if—
a
on or after 1 April 2002 a company (“the acquiring company”) acquires an intangible fixed asset (“the acquired asset”) from a person (“the transferor”),
b
the acquired asset is created on or after 1 April 2002,
c
at the time of the acquisition the transferor and the acquiring company are related parties,
d
the value of the acquired asset derives in whole or in part from any other asset (“the other asset”), and
e
the other asset meets the preserved status conditions (see section 894).
2
In the hands of the acquiring company the acquired asset is treated for the purposes of this Part as a pre-FA 2002 asset so far as its value derives from the other asset.
3
If only part of the value of the acquired asset derives from the other asset—
a
this Part applies as if there were a separate asset representing the part of the value that does not so derive, and
b
the alternative enactments apply as if there were a separate asset representing the part of the value that does so derive.
4
In subsection (3) “the alternative enactments” means the enactments that apply where this Part does not apply.
5
For the purposes of this section the cases in which the value of an asset may be derived from any other asset include any case where—
a
assets have been merged or divided,
b
assets have changed their nature, or
c
rights or interests in or over assets have been created or extinguished.
6
Section 894 supplements this section.
Pt. 8 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 6(1)