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Finance Act 2015

New Section 849D CTA 2009

26.New section 849D explains the restrictions that will apply in relation to Chapters 3 and 4 of Part 8 CTA 2009 where the relevant asset is not subject to the third party acquisition rule in new section 849C.

27.Subsection (2) provides that no debits are to be brought into account under Chapter 3 of Part 8 CTA 2009 in respect of the amortisation of relevant assets. This is to ensure that debit relief can only be claimed under Chapter 4; for example on realisation of the asset.

28.Subsection (3) provides that any debits brought into account under Chapter 4 in respect of realisations of relevant assets are non-trading debits. This is to limit how a debit on realisation will be available to set against other income of the company.

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