CIRD25190 - Intangible assets excluded from CTA09/PART8 as special tax rules apply: election in respect of capital expenditure on computer software: computational consequences

CTA09/PART8/CHAPTERS2-4

On the election described in CIRD25180 the following provisions of CTA09/PART8/CHAPTERS2-4 continue to apply:

  • S721 (receipts recognised as they accrue) - except to the extent they are recognised under CAA01/S72 (CA23420);
  • S722 (receipts in respect of royalties so far as not dealt with under S721);
  • S732 (debits on reversal of previous accounting gain - but only to the extent the accounting gains represent credits brought to account under S721 or S722); and

  • all the provisions in CTA09/PART8/CHAPTER4 (realisation of intangible assets) except that:

  • credits are only to be brought into account to the extent that they are not brought to account as disposal values under CAA01/S72; and
  • no deductions are to be made from receipts on the realisation of the asset under S735 and S736 (because they are relievable under the capital allowances rules).

»Ê¹ÚÌåÓýapp other provisions in CTA09/PART8/CHAPTERS2-4 do not apply.