SolvedSection 408 | Excluded relevant intangibles debits and excluded relevant intangibles credits
From legislation.gov.uk
(1)For the purposes of section 407 (and this section)—
(a)a debit is a “relevant intangibles debit” if it is brought into account under a provision of Part 8 of CTA 2009 (intangible fixed assets) that is listed in column 1 of the following table;
(b)a relevant intangibles debit is “excluded” to the extent indicated in the corresponding entry in column 2 of the table.
| Provision | Excluded debits |
|---|---|
| section 729 | excluded in full |
| section 731 | excluded in full |
| section 732 | excluded if and to the extent that its amount is determined by reference to an excluded intangibles credit |
| section 735 | excluded in full |
| section 736 | excluded in full |
| section 872 | excluded in full |
| section 874 | excluded in full |
(2)For the purposes of section 407 (and this section)—
(a)a credit is a “relevant intangibles credit” if it is brought into account under a provision of Part 8 of CTA 2009 (intangible fixed assets) that is listed in column 1 of the following table;
(b)a relevant intangibles credit is “excluded” to the extent indicated in the corresponding entry in column 2 of the table.
| Provision | Excluded credits |
|---|---|
| section 723 | excluded if and to the extent that its amount is determined by reference to excluded intangible debits and excluded intangible credits |
| section 725 | excluded if and to the extent that its amount is determined by reference to an excluded intangibles debit |
| section 735 | excluded if and to the extent that the cost of the asset in question exceeds its tax written-down value |
| section 872 | excluded in full |
| section 874 | excluded in full |
(3)In the table in subsection (2)—
(a)“tax written-down value” has the same meaning as in Part 8 of CTA 2009 (see Chapter 5 of that Part);
(b)“the cost of the asset” has the same meaning as in section 736 of that Act.