CIRD46020 - Intangible assets: special rules for restricted assets: overview of Chapter 16A

CTA09/S900A

Structure of Chapter 16A

 

CTA09/PART8/CHAPTER16A is split into three broad areas:

  • CTA09/S900B to 900D determine when an asset is a 바카라 사이트˜restricted asset바카라 사이트™ for the purpose of Chapter 16A.  See the more detailed guidance at CIRD46030 onwards which summarises the three cases.
  • CTA09/S900E and S900F determine the extent of the restriction in relation to a restricted asset.  See the guidance at CIRD46080 and CIRD46090.
  • CTA09/S900G to 900I contain important supplementary provisions. These include the meaning of 바카라 사이트˜relieving acquisition바카라 사이트™ and when two persons are regarded as related.  See CIRD46100.

 

The main policy design elements for restricting relief for restricted assets are to:

  • limit opportunities to gain a tax advantage where related parties acquire pre-FA 2002 assets on or after 1 July 2020, by
  • restricting relief under Chapters 3 and 15 by reference to the acquisition cost.

 

Definitions

 

When reading this section of the guidance you should familiarise yourself with the following defined terms:

  • The meaning of 바카라 사이트˜relieving acquisition바카라 사이트™.  See CIRD46100.
  • The meaning of 바카라 사이트˜related party바카라 사이트™.  See CIRD45105+ and CIRD46100.
  • The meaning of a 바카라 사이트˜pre-FA 2002 asset바카라 사이트™.  See CIRD11500+.
  • The meaning of 바카라 사이트˜the asset concerned바카라 사이트™ and 바카라 사이트˜the other asset바카라 사이트™ for the purpose of considering the second and third cases.  See CIRD46060+.
  • The meaning of 바카라 사이트˜relevant other asset바카라 사이트™ and 바카라 사이트˜notional deduction amount바카라 사이트™ for the purpose of calculation the adjustment under CTA/S900F.  See CIRD46090.

 

Points to note

 

To determine whether an asset is a pre-FA 2002 asset for the purposes of CTA09/PART8/CHAPTER16A you will need to reference the general rule at CTA09/S882 as it applies from 1 July 2020. 

Depending on the type of transaction, you may have to apply this definition to either 바카라 사이트˜the asset concerned바카라 사이트™ or to 바카라 사이트˜the other asset바카라 사이트™.  For example, if a licence is granted (바카라 사이트˜the asset concerned바카라 사이트™), you will need to consider whether the licensed asset (바카라 사이트˜the other asset바카라 사이트™) is a pre-FA 2002 asset at the time the licence is acquired.