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Finance Act 2002

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This is the original version (as it was originally enacted).

Treatment of grants and other contributions to expenditure

102(1)This paragraph applies where a grant or other payment is intended by the payer to meet, directly or indirectly, expenditure of a company on an intangible fixed asset.

(2)A gain recognised in the company’s profit and loss account in respect of the grant or other payment is treated for the purposes of paragraph 14 (receipts recognised as they accrue) as a gain representing a receipt in respect of the intangible fixed asset.

(3)This paragraph does not apply to a grant within paragraph 103 (grants to be left out of account for tax purposes).

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