Corporation Tax Act 2009 section 745

Introduction

Section 745 introduces the rules governing how tax credits and debits arising from intangible fixed assets are given effect, depending on the type of business activity for which the asset is held.

• All credits and debits under Part 8 (intangible fixed assets) are given effect through this Chapter
• Assets held for trade, property business, or mines and transport undertakings each follow their own specific rules (sections 747, 748 and 749 respectively)
• Intangible fixed assets not falling within those categories are treated as non-trading items under sections 751 to 753
• Special rules apply where the "I minus E" basis is used (relevant to life insurance companies under section 901)