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HMRC internal manual

Corporate Intangibles Research and Development Manual

Intangible assets: GAAP: role of

GAAP forms the foundation stone on which the tax computations required under CTA09/PART8 are based. It is used in particular:

  • to define (in part) the assets within the scope of CTA09/PART8 (see CIRD11120),
  • as the basis for the debits and credits to be brought into a company’s CT computation under the rules described in CIRD12000 onwards.

GAAP is defined in CTA10/S1127 - see CIRD30020.

See CIRD30500 onwards for a description of GAAP as it applies to goodwill and intangible assets.

See CIRD30080 for the circumstances in which it is possible to have regard to consolidated accounts in testing entries in company-level accounts.