Corporation Tax Act 2009 section 882

Application of this Part to assets created or acquired on or after 1 April 2002

Section 882 sets out the general timing rule that determines which intangible fixed assets fall within the Part 8 intangible fixed assets regime, depending on when and how they were created or acquired.

• The intangible fixed assets regime generally applies only to assets created on or after 1 April 2002, assets acquired between 1 April 2002 and 30 June 2020 from unrelated parties (or from related parties in certain specified circumstances), or assets acquired on or after 1 July 2020 regardless of the seller's relationship to the buyer.
• Assets held immediately before 1 July 2020 that were not within the charge to corporation tax at that date also fall within the regime, unless the asset was a pre-April 2002 asset in a corporation tax-paying company's hands between 19 March 2020 and 30 June 2020 and was not subsequently sold to an unrelated party during that period.
• Where an asset is acquired from a related party between 1 April 2002 and 30 June 2020, it only comes within the regime if the related party already held it as a chargeable intangible asset (Case A), or an unrelated intermediary originally acquired it on or after 1 April 2002 (Case B), or the asset was created on or after 1 April 2002 (Case C).
• The concept of "related party" for these purposes extends to situations where the transfer pricing participation condition is met between the parties, including where partnerships are involved.