Accounting rules and policy

Accounting value, meaning

Adjustments on change of policy

Consolidated group accounts

GAAP-compliant accounts

Recognised, meaning

Acquisition and realisation together, values to be used

Adjustments on change of accounting policy

Disaggregation

Generally

Bad debts

Becoming chargeable intangible asset

Ceasing to be chargeable intangible asset

Deemed market value rule

Postponement of gain

Charitable companies, exemption for

Company with investment business, restriction on relief

Computer software, interaction

Controlled foreign companies

Corporate partners and

Credits

Generally

Negative goodwill

Receipts in respect of royalties

Receipts recognised as they accrue

Revaluation

Reversal of previous accounting loss

Credits for

Debits

Bad debts

Deductions

Employees' remuneration, delayed payments

Expenditure on an asset

Expenditure written off as it is incurred

Generally

Pension contributions, delayed payments

Reversal of previous accounting gain

Writing down at fixed rate

Writing down on accounting basis

Debits for

Deemed market value acquisition, nil accounting value adjustment

Double taxation relief

Cross-border transfers of business and mergers

Limits on/reduction of credit

Employees' remuneration, delayed payments

European company (SE)

Excluded assets

Capital allowances previously made

Computer software

Film master versions

Film production expenditure

Financial assets

Generally

Mutual trade or business

Non-commercial purposes etc.

Oil licences

Partial exclusion

Research and development

Right to dispose of or acquire

Rights in companies/trusts or partnerships

Rights over tangible assets

Sound recordings

Finance leasing

Foreign branch exemption regime

Fungible assets

Generally

Giving effect to credits and debits brought into account

Generally

Mines, quarries and other concerns, assets held for

Non-trading credits and non-trading debits, meaning

Non-trading gains and losses

Property business, assets held for

Trade, assets held for

Goodwill

Grants and other contributions to expenditure

Groups of companies

75% subsidiary, meaning

Ceasing to be member of group

Company and its 75% subsidiaries forming group

Company not to be member of more than one group

Company, meaning

Continuity of identity of group

Continuity where group includes an SE

Degrouping

Degrouping charge

Degrouping charge, reallocation and recovery

Effective 51% subsidiaries of principal company members of group

Effective 51% subsidiary, meaning

Equity holders and profits of assets available for distribution

Generally

Group relief

Group, meaning

Liquidation

Meanings

Mergers

Principal company not to be 75% subsidiary of another company

Roll-over relief

Subsidiary, meaning

Transfers within a group

Transfers within treated as tax-neutral

Insurance companies

Intangible asset

Meaning

Permanent establishment, disallowed deductions

Internally-generated goodwill

Internally-generated intangible asset

Loss reliefs

Meaning

Non-monetary receipt

Overview

Pension contributions, delayed payments

Post-1 April 2002

Accounting treatment

Anti-avoidance provisions

Becoming a chargeable intangible asset

Ceasing to be a chargeable intangible asset

Change of accounting policy, adjustments on

Close company participator test

Commencement rules

Computer software

Controlled foreign companies

Credits

Debits

Deemed pre-2002 assets

Disaggregation, change of accounting policy

Disincorporation relief

Exceptions to general commencement rules

Excluded assets

Finance leases

Generally

Goodwill

Grants

Groups of companies

How debits and credits are given

Meaning

Migrations

Realisation of

Recognition of items in accounts

Reconstructions

Related parties

Roll-over relief

Royalties

Scope of regime

Transfer of business or trade

When assets treated as created or acquired

Pre-Finance Act 2002 assets

Capital allowances rule

Chargeable gains rule

Expenditure treated as incurred

Film production expenditure, time of creation

Fungible assets

General timing rule

Generally

Internally-generated assets not qualifying for capital allowances

Internally-generated goodwill, time of creation

Meaning

Non-qualifying assets, time of creation

Preserved status condition

Related parties

Roll-over relief

Royalties

Telecommunication rights

Time of creation

Transfer of business, assets acquired on

Value derived from excluded assets

When asset created or acquired

Priority rules

Realisation

Abortive expenditure on

Apportionment in case of part realisation

Asset not shown in balance sheet

Asset shown in balance sheet and not written down

Asset written down

Chargeable intangible asset, meaning

Chargeable realisation gain, meaning

Generally

Meaning

Proceeds of realisation, meaning

Related parties

Close company, participator and associate

Connected persons

Control, meaning

Generally

Jointly held rights and powers

Major interest, meaning

Meaning

Partnerships, rights and powers

Rights and powers to be taken into account

Transactions between

Research and development expenditure, interaction

Roll-over relief

Roll-over relief on realisation and reinvestment

Change of accounting policy, cost of asset where asset affected by

Chargeable gains

Claims for relief

Declaration of provisional entitlement to relief

Determination of appropriate proportion of cost and adjusted cost

Disregard of deemed realisations and reacquisitions

Expenditure on other assets

Groups of companies

How relief is given

Old asset and its realisation

Old asset and other assets, meaning

Part realisations involving related parties, exclusion

Pre-FA2002 assets

Realisation and reacquisition

Royalty, meaning

Tax avoidance arrangements

Tax written-down value

Accounting basis

Fixed-rate basis

Part realisation

Realisation

Trading receipts

Transactions between related parties

Transactions between related parties, interaction

Transfer of business or trade, interaction

Transfer of trade or business

Building societies transfer of business

Clearance procedures

Co-operative associations

European cross-border mergers

European cross-border transfers

Generally

Genuine commercial transaction requirement

Industrial and provident societies

Non-UK resident companies, transfers to

Pre-FA2002 assets

Reconstructions involving

Tax-neutral transfers

Transfer pricing

Transfers between related parties

Delayed royalty payments

Generally

Gifts of business assets

Market value rule

Not at arm's length

Other taxes

Part realisation, exclusion of roll-over relief

Tax-neutral transfers

Transitional provisions