Corporation Tax Act 2009 section 816

Further provision about elections under section 815

Section 816 sets out the procedural requirements that must be followed when a company makes an election under section 815 to exclude capital expenditure on software from the intangible fixed assets regime.

• The election must clearly specify which particular expenditure it relates to
• It must be made in writing to an officer of Revenue and Customs within 2 years of the end of the accounting period in which the expenditure was incurred
• Once made, the election is irrevocable and cannot be withdrawn or amended
• These procedural rules originate from paragraph 83 of Schedule 29 to the Finance Act 2002