http://www.legislation.gov.uk/ukpga/2002/23/schedule/29Finance Act 2002An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.2002-08-02texttext/xmlenStatute Law Database2026-04-15Expert Participation2026-03-18
Finance Act 2002Sch. 16 para. 27(5)(6)Finance Act 2008Sch. 39 para. 48s. 118(2)art. 2(2)art. 10Finance Act 2002Sch. 29 para. 88(5)The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009Sch. 1 para. 328(2)art. 1(2)Finance Act 2002Sch. 29 para. 88(6)The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009Sch. 1 para. 328(3)art. 1(2)Finance Act 2002Sch. 29 para. 116(2)(b) and wordFinance Act 2009Sch. 16 para. 3Sch. 16 para. 7 8
SCHEDULESSCHEDULE 29Gains and losses of a company from intangible fixed assetsSection 84(1)Part 1Introduction<Emphasis>Gains and losses in respect of intangible fixed assets</Emphasis>1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Intangible assets</Emphasis>2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Intangible fixed assets</Emphasis>3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Goodwill</Emphasis>4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Company not drawing up correct accounts</Emphasis>5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Reference to consolidated group accounts</Emphasis>6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 2Debits in respect of intangible fixed assets<Emphasis>Introduction</Emphasis>7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Expenditure written off as it is incurred</Emphasis>8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Writing down on accounting basis</Emphasis>9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Writing down at fixed rate: election for fixed-rate basis</Emphasis>10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Writing down at fixed rate: calculation</Emphasis>11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Reversal of previous accounting gain</Emphasis>12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 3Credits in respect of intangible fixed assets<Emphasis>Introduction</Emphasis>13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Receipts recognised as they accrue</Emphasis>14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Receipts in respect of royalties so far as not dealt with under paragraph 1414A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Revaluation</Emphasis>15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Negative goodwill</Emphasis>16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Reversal of previous accounting loss</Emphasis>17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 4Realisation of intangible fixed assets<Emphasis>Introduction</Emphasis>18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of “realisation"</Emphasis>19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Realisation of asset written down for tax purposes</Emphasis>20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Realisation of asset shown in balance sheet and not written down for tax purposes</Emphasis>21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Apportionment in case of part realisation</Emphasis>22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Realisation of asset not shown in balance sheet</Emphasis>23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of “proceeds of realisation"</Emphasis>24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Relief in case of reinvestment</Emphasis>25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Abortive expenditure on realisation</Emphasis>26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 5Calculation of tax written down value<Emphasis>Asset written down on accounting basis</Emphasis>27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Asset written down at fixed rate</Emphasis>28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Effect of part realisation of asset</Emphasis>29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 6How credits and debits are given effect<Emphasis>Introduction</Emphasis>30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Asset held for purposes of trade</Emphasis>31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Asset held for purposes of property business</Emphasis>32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets held for purposes of mines, transport undertakings, <Abbreviation Expansion="Et cetera" xml:lang="la">etc</Abbreviation></Emphasis>33. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Non-trading credits and debits</Emphasis>34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Claim to set non-trading loss against total profits</Emphasis>35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Special provisions relating to insurance companies</Emphasis>36. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 7Roll-over relief in case of realisation and reinvestment<Emphasis>The relief</Emphasis>37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Conditions to be met in relation to the old asset and its realisation</Emphasis>38. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Conditions to be met in relation to the expenditure on other assets</Emphasis>39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Claim for relief</Emphasis>40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>How the relief is given: general</Emphasis>41. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Determination of appropriate proportion or adjusted cost</Emphasis>42. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>References to cost of asset where asset affected by change of accounting policy</Emphasis>42A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Declaration of provisional entitlement to relief</Emphasis>43. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Realisation and reacquisition</Emphasis>44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Deemed realisations and deemed acquisitions to be disregarded</Emphasis>45. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 8Groups of companies<Emphasis>Introduction</Emphasis>46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>General rule: a company and its 75% subsidiaries form a group</Emphasis>47. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Membership of group restricted to effective 51% subsidiaries of principal company</Emphasis>48. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Principal company cannot be 75% subsidiary of another company</Emphasis>49. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Company cannot be member of more than one group</Emphasis>50. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Continuity of identity of group</Emphasis>51. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .51A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of “effective 51% subsidiary"</Emphasis>52. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of equity holder and profits or assets available for distribution</Emphasis>53. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Supplementary provisions</Emphasis>54. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 9Application of provisions to groups of companies<Emphasis>Transfers within a group</Emphasis>55. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Roll-over relief on reinvestment: application to group member</Emphasis>56. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Roll-over relief on reinvestment: acquisition of group company treated as equivalent to acquisition of underlying assets</Emphasis>57. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Company ceasing to be member of group (“degrouping")</Emphasis>58. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Degrouping: associated companies leaving group at the same time</Emphasis>59. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Degrouping: principal company becoming member of another group</Emphasis>60. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Degrouping: company ceasing to be member of group by reason of exempt distribution</Emphasis>61. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Degrouping: merger carried out for bona fide commercial reasons</Emphasis>62. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Degrouping: group member ceasing to exist</Emphasis>63. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Degrouping: supplementary provisions</Emphasis>64. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Degrouping: application of roll-over relief in relation to degrouping charge</Emphasis>65. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Reallocation of degrouping charge within group</Emphasis>66. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Application of roll-over relief in relation to reallocated degrouping charge</Emphasis>67. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Recovery of degrouping charge from another group company or controlling director</Emphasis>68. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Recovery of degrouping charge from another group company or controlling director: procedure etc</Emphasis>69. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Recovery of degrouping charge from another group company or controlling director: time limit</Emphasis>70. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Payments between group members in respect of reliefs</Emphasis>71. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 10Excluded assets<Emphasis>Introduction</Emphasis>72. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets entirely excluded: rights over tangible assets</Emphasis>73. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets entirely excluded: assets in respect of which capital allowance previously made</Emphasis>73A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets entirely excluded: oil licences</Emphasis>74. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets entirely excluded: financial assets</Emphasis>75. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets entirely excluded: rights in companies, trusts, etc</Emphasis>76. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets entirely excluded: non-commercial purposes etc</Emphasis>77. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets excluded except as regards royalties: life assurance business</Emphasis>78. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets excluded except as regards royalties: mutual trade or business</Emphasis>79. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets excluded except as regards royalties: films and sound recordings</Emphasis>80. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets excluded: certain films</Emphasis>80A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets excluded except as regards royalties: sound recordings</Emphasis>80B. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets excluded except as regards royalties: computer software treated as part of cost of related hardware</Emphasis>81. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets excluded to extent specified: research and development</Emphasis>82. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets excluded to extent specified: election to exclude capital expenditure on computer software</Emphasis>83. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 11Transfer of business or trade<Emphasis>Company reconstruction involving transfer of business</Emphasis>84. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Transfer of UK business between companies resident in different EU member States</Emphasis>85. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>European cross-border merger: transfer of UK business</Emphasis>85A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<CommentaryRef Ref="key-28004d90733ed7ddddda496008f87ff2"/><Emphasis>Transparent entities</Emphasis>85B. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .85C. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .85D. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Postponement of charge on transfer of assets to non-resident company.</Emphasis>86. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Transfer of non-UK business</Emphasis>87. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>European cross-border merger: transfer of non-UK business</Emphasis>87A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Procedure on application for clearance</Emphasis>88. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Transfer of life assurance business</Emphasis>89. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Transfer of business of building society to company</Emphasis>90. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Amalgamation of or transfer of engagements by certain societies</Emphasis>91. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 12Transactions between related parties<Emphasis>Transfer between company and related party treated as being at market value</Emphasis>92. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Exclusion of roll-over relief in case of part realisation involving related party</Emphasis>93. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Delayed payment of royalty payable by company to related party</Emphasis>94. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of “related party"</Emphasis>95. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Persons treated as “related parties”</Emphasis>95A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of “control" and “major interest"</Emphasis>96. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Rights and powers to be taken into account: general</Emphasis>97. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Rights and powers to be taken into account: rights and powers held jointly</Emphasis>98. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Rights and powers to be taken into account: partnerships</Emphasis>99. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of “participator" and “associate"</Emphasis>100. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Connected persons</Emphasis>101. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 13Supplementary provisions<Emphasis>Treatment of grants and other contributions to expenditure</Emphasis>102. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Grants to be left out of account for tax purposes</Emphasis>103. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Finance leasing etc</Emphasis>104. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets acquired or realised together</Emphasis>105. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Deemed market value acquisition: adjustment of amounts in case of nil accounting value</Emphasis>106. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Treatment of fungible assets</Emphasis>107. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Asset ceasing to be chargeable intangible asset: deemed realisation at market value</Emphasis>108. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Asset ceasing to be chargeable intangible asset: postponement of gain in certain cases</Emphasis>109. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Asset becoming chargeable intangible asset</Emphasis>110. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Tax avoidance arrangements to be disregarded</Emphasis>111. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Debits not allowed in respect of expenditure not generally deductible for tax purposes</Emphasis>112. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Delayed payment of employees' remuneration </Emphasis>113. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Delayed payment of pension contributions</Emphasis>114. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Bad debts etc</Emphasis>115. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assumptions for computing chargeable profits of controlled foreign companies</Emphasis>116. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 13AAdjustment on change of accounting policyIntroduction116A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Change of accounting policy involving change of value116B. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Change of accounting policy involving disaggregation116C. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Change of accounting policy involving disaggregation: original asset subject to fixed rate writing down116D. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Change of accounting policy involving disaggregation: election for fixed rate writing down in relation to resulting asset116E. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Cap on credit to be brought into account on change of accounting policy116F. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Exclusion of debits or credits brought into account under other provisions116G. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Subsequent events affecting asset subject to adjustment under this Part116H. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 14Commencement and transitional provisions<Emphasis>Commencement date</Emphasis>117. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Application of Schedule to assets created or acquired after commencement</Emphasis>118. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Application of Schedule to royalties</Emphasis>119. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Assets regarded as created or acquired when expenditure incurred</Emphasis>120. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Internally-generated goodwill: whether created before or after commencement</Emphasis>121. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Certain other internally-generated assets: whether created before or after commencement</Emphasis>122. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Expenditure on acquisition treated as incurred when recognised for accounting purposes</Emphasis>123. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>When expenditure treated as incurred: chargeable gains rule to be followed in certain cases</Emphasis>124. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>When expenditure treated as incurred: capital allowances general rule to be followed in certain cases</Emphasis>125. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Application of Schedule to fungible assets</Emphasis>126. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Certain assets acquired on transfer of business treated as existing assets</Emphasis>127. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assets whose value derives from existing assets treated as existing assets127A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Assets acquired in connection with disposals of existing assets treated as existing assets127B. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Application of Schedule to certain existing telecommunication rights</Emphasis>128. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Application of Schedule to existing Lloyd’s syndicate capacity</Emphasis>129. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Roll-over relief: application in relation to disposal of existing asset after commencement</Emphasis>130. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Roll-over relief: application in relation to degrouping charge on existing asset arising after commencement</Emphasis>131. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Roll-over relief: transitory interaction with relief on replacement of business asset</Emphasis>132. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Part 15Interpretation<Emphasis>References to expenditure on an asset</Emphasis>133. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>References to amounts recognised in determining profit or loss </Emphasis>134. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of “accounting value"</Emphasis>135. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of “adjustments required for tax purposes"</Emphasis>136. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of “chargeable intangible asset" and “chargeable realisation gain"</Emphasis>137. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Interpretation provisions relating to insurance companies</Emphasis>138. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of “royalty"</Emphasis>139. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of “tax-neutral transfer"</Emphasis>140. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of “the Inland Revenue"</Emphasis>141. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Meaning of “the Taxes Acts"</Emphasis>142. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .<Emphasis>Index of defined expressions</Emphasis>143. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Sch. 29 repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 545, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)