Intangible assets excluded from Schedule 29 as special tax rules apply: research and development: computational provisions which continue to apply
In line with the approach described in CIRD25160 the following provisions in Parts 2 to 4 of Schedule 29 continue to apply to an asset that represents expenditure on research and development:
- paragraph 14 (receipts recognised as they accrue),
- paragraph 12 (debits on reversal of previous accounting gain) - to the extent the accounting gains represent credits brought to account under paragraph 14,
- all the provisions in Part 4 except that no deductions are to be made from receipts on the realisation of the asset under paragraphs 20 or 21.
The other provisions in Parts 2 to 4 of Schedule 29 do not apply.