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HMRC internal manual

Corporate Intangibles Research and Development Manual

Intangible assets excluded from Schedule 29 as special tax rules apply: except as regards royalties: assets held for life assurance business

FA02/SCH29/PARA78Life assurance business is subject to special rules for the computation of income, which do not normally use a company’s statutory accounts as their starting point. Goodwill and intangible fixed assets held for life assurance business are therefore excluded from Schedule 29 with the exception of royalties. The paragraph makes computer software a further exception to the exclusion. See the Life Assurance Manual (LAM4D.151 to LAM4D.164) for detailed guidance.