On the part realisation (see CIRD13230) of an intangible asset on the balance sheet the deduction for the tax written down value of the asset (or sometimes its cost) is limited to a proportion of what would have been deductible under CIRD13250 on a complete realisation. That proportion is calculated by reducing that amount in the ratio the reduction in the accounting value of the asset as a result of the realisation bears to the accounting value immediately prior to the realisation. The accounting value of an asset is its net book value – see CIRD12770.

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