BLM23075 - Defining long funding leases: commencement and transition: pre-existing heads of agreement: construction of software
This manual is being updated to reflect FRS 102 (2024 amendments). For guidance on the tax treatment of accounts prepared under IFRS 16 or the revised FRS 102, please refer to pages within the BLM50000 chapter.
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Software is not constructed in the same way as physical assets, but the same principles apply as for any other asset.