Corporation Tax Act 2009 section 751

Non-trading gains and losses

Section 751 explains how to calculate a company's non-trading gain or loss on intangible fixed assets for an accounting period by comparing total non-trading credits against total non-trading debits.

• Where a company has non-trading credits or debits relating to intangible fixed assets in an accounting period, it must calculate the overall non-trading gain or loss for that period.
• A non-trading gain arises where total non-trading credits exceed total non-trading debits (or where there are credits but no debits), and the gain equals the excess (or the full sum of credits).
• A non-trading loss arises where total non-trading debits exceed total non-trading credits (or where there are debits but no credits), and the loss equals the excess (or the full sum of debits).
• The resulting non-trading gain is charged to tax under section 752, while non-trading losses are dealt with under section 753.