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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 excluded from Schedule 29: introduction

FA02/SCH29/PARA72 - 83

The third of the tests mentioned in CIRD11100 that an intangible asset needs to meet to satisfy the asset conditions is that it must not fall within any of a number of excluded categories.

These statutory exclusions can be divided into three types:

  • assets which are largely outside FRS102 s18 (or IAS38/FRS105 s13/FRS10) as a matter of accounting principle (CIRD25025 onwards),
  • assets excluded, some within FRS102 s18 (or IAS38/FRS105 s13/FRS10) some outside it, because special tax rules already apply to them - these exclusions are partial only (CIRD25050),
  • assets held by a company for uncommercial purposes or for the purposes of activities of the company outside the charge to CT (CIRD25070).

 

Options

Paragraph 72 (1) provides that options or other rights (for example a futures contract) to acquire or dispose of an excluded asset are themselves excluded from Schedule 29. See CIRD11175 for the treatment under Schedule 29 of options andother rights.