Corporation Tax Act 2009 section 800

Introduction

Section 800 introduces the rules on which intangible fixed assets are excluded from the intangible fixed assets tax regime in Part 8 of the Act, and explains the three different levels of exclusion that apply.

• Not all assets meeting the definition of an intangible fixed asset are subject to the Part 8 tax rules — certain categories are excluded entirely or partially.
• There are three levels of exclusion: assets that are wholly excluded from Part 8, assets that are excluded except in relation to royalties, and assets that are excluded only to a specified extent.
• Assets excluded except for royalties include those relating to mutual trades or businesses and computer software treated as part of the cost of related hardware.
• Additional exclusion rules exist for pre-Finance Act 2002 assets, which are dealt with separately in Chapter 16 of Part 8.