Explanatory Notes

Corporation Tax Act 2009

2009 CHAPTER 4

26 March 2009

Commentary on Sections

Part 8: Intangible fixed assets

Overview

Chapter 6: How credits and debits are given effect
Section 749: Assets held for purposes of mines, transport undertakings, etc

2038.This section incorporates the credits and debits directly into the profit calculation of a relevant business if the intangible fixed asset is held for the purposes of that business. It is based on paragraph 33 of Schedule 29 to FA 2002.