Part 8Intangible fixed assets
Chapter 16Pre-FA 2002 assets etc
When expenditure treated as incurred
888Cases where chargeable gains rule applies
1
This section applies if—
a
expenditure on the acquisition of an asset does not qualify for any form of tax relief against income under the law as it was before 1 April 2002,
b
that expenditure would be treated as incurred on or after that date under the general rule in section 887, and
c
the relevant disposal of the asset is treated as occurring before that date for the purposes of TCGA 1992 or would be so treated under the law as it was before 1 April 2002.
2
For the purposes of section 883 (assets treated as created or acquired when expenditure incurred), the expenditure is treated as incurred before 1 April 2002.
3
In subsection (1) “the relevant disposal” means the disposal on which the acquisition mentioned in subsection (1)(a) occurred.