Corporation Tax Act 2009 section 733

Overview of Chapter

Section 733 introduces the rules for recognising taxable credits or debits when a company realises (typically sells or disposes of) an intangible fixed asset, and flags related provisions including roll-over relief and definitions of key terms.

• When a company realises an intangible fixed asset, tax credits or debits must be brought into account under this Chapter
• The detailed rules in sections 735 to 738 are subject to roll-over relief provisions in Chapter 7, which may apply where proceeds are reinvested in replacement assets
• This Chapter also determines whether an asset qualifies as a "chargeable intangible asset" and whether a gain counts as a "chargeable realisation gain" for the purposes of Part 8
• Key definitions — including the meaning of "realisation", "chargeable intangible asset", and "chargeable realisation gain" — are set out in sections 734 and 741 respectively