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



Bad debts

Becoming chargeable intangible asset

Ceasing to be chargeable intangible asset

Deemed market value rule

Postponement of gain

Charitable companies, exemption for

Companies in partnership

Company with investment business, restriction on relief

Controlled foreign companies

Corporate partners and

Corporation tax election



Negative goodwill

Receipts in respect of royalties

Receipts recognised as they accrue


Reversal of previous accounting loss


Bad debts


Employees' remuneration, delayed payments

Expenditure on an asset

Expenditure written off as it is incurred


Pension contributions, delayed payments

Reversal of previous accounting gain

Writing down at fixed rate

Writing down on accounting basis

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


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


Giving effect to credits and debits brought into account


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


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 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


Group relief

Group, meaning




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


Permanent establishment, disallowed deductions

Internally-generated goodwill

Internally-generated intangible asset

Loss reliefs


Non-monetary receipt

Non-trading losses


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



Deemed pre-2002 assets

Disaggregation, change of accounting policy

Disincorporation relief

Exceptions to general commencement rules

Excluded assets

Finance leases




Groups of companies

How debits and credits are given



Realisation of

Recognition of items in accounts


Related parties

Roll-over relief


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


Internally-generated assets not qualifying for capital allowances

Internally-generated goodwill, time of creation


Non-qualifying assets, time of creation

Preserved status condition

Related parties

Roll-over relief


Telecommunication rights

Time of creation

Transfer of business, assets acquired on

Value derived from excluded assets

When asset created or acquired

Priority rules


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



Proceeds of realisation, meaning

Related parties

Close company, participator and associate

Connected persons

Control, meaning


Jointly held rights and powers

Major interest, meaning


Partnerships, rights and powers

Rights and powers to be taken into account

Transactions between

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


Trading losses

Trading receipts

Transactions between related parties

Transfer of trade or business

Building societies transfer of business

Clearance procedures

Co-operative associations

European cross-border mergers

European cross-border transfers


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


Gifts of business assets

Market value rule

Not at arm's length

Other taxes

Part realisation, exclusion of roll-over relief

Tax-neutral transfers