The legislation deals separately with credits arising on a realisation (or part realisation) of an intangible asset and credits arising otherwise than on realisation. Paragraph ¶723-300 below considers the provisions that apply on a realisation (or part realisation) of an intangible asset. This paragraph considers the position with regard to credits arising other than on a realisation or part realisation of the intangible fixed asset.

Accounting receipts and gains of a company relating to intangible fixed assets are again not automatically taxable. Instead, they give rise to a series of tax credits (CTA 2009, s. 720).

Accounting entries

Tax credit

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