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HMRC internal manual

Corporate Intangibles Research and Development Manual

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HM Revenue & Customs
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Intangible assets within CTA09/PART8: FA02 rule: outline

CTA09/PART8/S882 {#IDAAHWCB} - Outline

An asset held by a company satisfies the general conditions of the FA02 rule if any of the following apply:

  • it is ‘created by the company on or after 1 April 2002’ (see CIRD11600)
  • it is ‘acquired by the company on or after 1 April 2002’ from a person who is not at that time a ‘related party’ (see CIRD11610)
  • it is acquired by the company on or after 1 April 2002 from a related party in defined circumstances (see CIRD11625)

 

Where the company acquired the asset (rather than created the asset itself) the asset must not have been transferred to the company in circumstances where the transferor is treated as disposing of the asset for CG purposes on no gain/no loss terms under TCGA92/S139 or TCGA92/S140A (see CG52800 onwards and CG45706 onwards). See CIRD11660.