Where an intangible asset held by a company becomes a chargeable intangible asset as a result of:

(1)the company becoming UK resident; or

(2)in the case of a non-UK resident company, on the asset beginning to be held for the purposes of:

(a)a trade carried on by the company in the UK through a permanent establishment;

(b)a trade carried on by the company of dealing in or developing UK land (¶712-370) (effective 6 April 2020);

(c)a UK property business carried on by the company (effective 6 April 2020); or

(d)for the purposes of enabling the company to generate other UK property income (effective 6 April 2020)

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