Corporation Tax Act 2009

720 Introduction

(1) This Chapter provides for credits to be brought into account by a company for tax purposes in respect of—

(a) receipts in respect of intangible fixed assets that are recognised in determining the company’s profit or loss as they accrue (see section 721),

(b) receipts in respect of royalties, so far as the receipts do not give rise to a credit under section 721 (see section 722),

(c) revaluation of an intangible fixed asset (see section 723),

(d) credits recognised for accounting purposes in respect of negative goodwill (see section 724), and

(e) the reversal of previous accounting debits in respect of an intangible fixed asset (see section 725).

(2) This Chapter does not apply in relation to amounts brought into account in connection with the realisation of an intangible fixed asset within the meaning of Chapter 4 (see section 734).

(3) For the rules about those amounts, see that Chapter.