Section 804 | Assets for which capital allowances previously made

(1)This Part does not apply to an intangible asset of a company if conditions A, B and C are met.

(2)Condition A is that the asset falls to be treated as an intangible asset in accounts of the company.

(3)Condition B is that in a previous period of account the asset fell to be treated as a tangible asset in accounts of the company.

(4)Condition C is that an allowance under Part 2 of CAA 2001 (plant and machinery allowances) was made to the company in respect of the asset on the basis that it was a tangible asset.