Excluded assets: assets in respect of which capital allowances previously made
71In Part 10 of Schedule 29 to the Finance Act 2002 (c. 23) (excluded assets), after paragraph 73 (rights over tangible assets) insert—
“Assets entirely excluded: assets in respect of which capital allowance previously made
73A(1)This Schedule does not apply to an intangible asset of a company in the following circumstances.
(2)The circumstances are that—
(a)the asset falls to be treated as an intangible asset in accounts of the company,
(b)in a previous period of account the asset fell to be treated as a tangible asset in accounts of the company, and
(c)an allowance under Part 2 of the Capital Allowances Act (plant and machinery allowances) was made to the company in respect of the asset on the latter basis.”.