Point in time view as at 15/09/2016.
There are currently no known outstanding effects for the Taxation (International and Other Provisions) Act 2010, Section 371SK.
(1)This section applies for the purpose of applying Part 8 of CTA 2009 (intangible fixed assets).
(2)Assume that any intangible fixed asset acquired or created by the CFC before its first accounting period was acquired or created by the CFC at the beginning of that accounting period at a cost equal to its value recognised for accounting purposes at that time.
(3)In subsection (2) references to the CFC's first accounting period are to the CFC's accounting period which begins when it becomes a CFC.
(4)The assumption in subsection (2) does not affect the determination of the question whether Part 8 of CTA 2009 applies to an asset in accordance with section 882 of that Act (application of Part 8 to assets created or acquired on or after 1 April 2002).
(5)Assume also that the CFC—
(a)has not claimed any relief under Chapter 7 of Part 8 of CTA 2009 (roll-over relief in case of reinvestment), or
(b)made any provisional declaration of entitlement to such relief.
(6)Subsection (5) is subject to section 371SG(4).]
Textual Amendments
F1Pt. 9A inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 20 para. 1 (with ss. 56-58)
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
