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TAXguide 0519 Intangible fixed assets and corporate tax deductibility

In TAXguide 05/19 Andrew Tall explains the different ways that a revenue deduction can be claimed for ‘typical’ intangible fixed assets used by a company in a taxable business, as introduced in Finance Act 2019 under chapters 3 and 15, Pt 8, Corporation Tax Act 2009.

Overview

TAXguide 05/19

Tax Faculty members can download this guidance in full.

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Intangible fixed assets (ITFA) underwent a revolutionary change in taxation in April 2002 (now Pt 8, CTA 2009), and in recent years major changes to the deductions available for goodwill and customer related ITFA have meant that practitioners need to be aware of the following four sets of rules:

Pre-2002 regime Applies to ITFA created/acquired pre-April 2002
ITFA regime Applies to ITFA created/acquired post-April 2002 except for excluded ITFA
Relevant assets under s816A Applies to internally generated goodwill acquired on/after 3 December 2014 and all goodwill and customer related ITFA acquired after 8 July 2015 and before 1 April 2019