F1PART 8BTrading profits taxable at the Northern Ireland rate
Annotations:
Amendments (Textual)
CHAPTER 8Intangible fixed assets
Pre-commencement assets
357OKFungible assets
1
This section and section 357OL have effect for the purposes of this Chapter in relation to assets to which section 858 of CTA 2009 (treatment of fungible assets) applies.
2
Section 858 of CTA 2009 applies as if—
a
pre-commencement assets, and
b
intangible fixed assets that are not pre-commencement assets,
were assets of different kinds.
3
If section 858 of CTA 2009 applies (whether or not it is a case where subsection (2) has effect)—
a
a single asset comprising pre-commencement assets is treated as itself being a pre-commencement asset, and
b
a single asset comprising intangible fixed assets that are not pre-commencement assets is treated as itself being an asset which is not a pre-commencement asset.
Pt. 8B inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 1