Finance Act 2002

Realisation of asset not shown in balance sheet

23(1)This paragraph applies where there is a realisation of an intangible fixed asset in relation to which neither paragraph 20 (asset written down for tax purposes) nor paragraph 21 (asset shown in balance sheet but not written down) applies.

(2)Where this paragraph applies, a credit equal to any proceeds of realisation shall be brought into account for tax purposes.