Corporation Tax Act 2009 section 804

Assets for which capital allowances previously made

Section 804 excludes certain intangible assets from the intangible fixed assets tax regime (Part 8) where the company has previously claimed capital allowances on the same asset when it was treated as a tangible asset.

• An intangible asset is excluded from the Part 8 intangible fixed assets regime if three conditions are all met.
• The asset must currently be treated as an intangible asset in the company's accounts.
• In an earlier accounting period, the same asset must have been treated as a tangible asset in the company's accounts.
• The company must have received plant and machinery capital allowances under Part 2 of the Capital Allowances Act 2001 in respect of the asset on the basis that it was tangible.