Part 8Intangible fixed assets

Chapter 16Pre-FA 2002 assets etc

Application of Part to royalties and telecommunication rights

896Application to royalties

1

This Part—

a

applies to royalties recognised for accounting purposes on or after 1 April 2002, and

b

does not apply to royalties recognised for accounting purposes before that date.

2

But subsection (1) is subject to subsection (3).

3

This section does not authorise or require an amount to be brought into account in connection with the realisation of a pre-FA 2002 asset.

4

In this section “realisation” has the same meaning as in Chapter 4 (see section 734).