Taxation of Chargeable Gains Act 1992 section 156ZB

Intangible fixed assets: interaction with relief under Chapter 7 of Part 8 of CTA 2009

Section 156ZB restricts the availability of capital gains roll-over relief where the assets involved are intangible fixed assets that fall within the corporation tax intangible assets regime introduced from 1 April 2002.

• Where an asset disposed of on or after 1 April 2002 qualifies both as a roll-over relief asset class and as an intangible fixed asset under Part 8 of CTA 2009, the normal roll-over reinvestment window cannot include any period on or after 1 April 2002 and cannot be extended to cover such a period.
• Certain asset classes used for roll-over relief purposes — Classes 4 to 7A in section 155, which cover various types of intangible assets such as goodwill, patents, copyrights and similar rights — cannot be used as qualifying new assets for corporation tax roll-over relief if they are chargeable intangible assets under the CTA 2009 regime.
• For acquisitions made before 22 March 2005, the restriction applies to the narrower range of Classes 4 to 7 only, reflecting the fact that Class 7A was introduced with effect from that date.
• The overall effect is to prevent companies from claiming capital gains roll-over relief on intangible assets that should instead be dealt with under the corporation tax intangible fixed assets regime in Part 8 of CTA 2009.