Corporation Tax Act 2009 section 900O

Interpretation

Section 900O defines two key terms used throughout the chapter dealing with intangible fixed assets.

• A "restricted asset" has the same meaning as defined in Chapter 16A of the Act
• A "standard intangible fixed asset" is an intangible fixed asset that is neither a pre-Finance Act 2002 asset nor a restricted asset
• These definitions ensure consistent terminology when determining the tax treatment of different categories of intangible fixed assets
• The classification of an intangible fixed asset into one of these categories determines which set of rules applies to it for corporation tax purposes