Commentary

D1.601A Scope of corporate intangible asset regime

Corporate tax
Corporate tax | Commentary

D1.601A Scope of corporate intangible asset regime

Corporate tax | Commentary

D1.601A Scope of corporate intangible asset regime

The tax treatment of intangible assets is within CTA 2009, ss 711–906, Part 8. For convenience, the regime is referred to throughout this Division as the corporate intangible regime. Intangible asset has the meaning it has for accounting purposes and includes intellectual property and goodwill1 although some assets are excluded from the regime, further details of the meaning of intangible assets is detailed in D1.602.

For times before 1 July 2020 the regime applied to intangible assets that were2:

  1.  

    •     created by the company on or after 1 April 2002

  2.  

    •     intangible assets acquired from third parties (other than related parties) on or after 1 April 2002, or

  3.  

    •     acquired from a related party on or after 1 April 2002, and

    1.  

      –     the asset was a chargeable intangible asset immediately before acquisition

    2.  

      –     the related party itself, or any other person, only created the asset after 31 March 2002, or

    3.  

      –     where the company concerned ('X Ltd') acquired the asset from a related party ('R') which in turn acquired the asset from a third party after 31 March 2002, provided that at the time of R's acquisition the third party was not related to R or any company related to R and at the time of acquisition by X Ltd, the third party is not related to X Ltd

For times beginning on or after 1 July 2020 the regime applies to intangible fixed assets where:

  1.  

    •     the asset is created by the company after

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