Section 734 — Corporation Tax Act 2009: Meaning of “realisation”

Meaning of “realisation” 734 1 References in this Part to the realisation of an intangible fixed asset are to a transaction resulting, in accordance with generally accepted accounting practice—

a in the asset ceasing to be recognised in the company's balance sheet, or b in a reduction in the accounting value of the asset.

2 In subsection (1) “ transaction ” includes any event giving rise to a gain recognised for accounting purposes.

3 In relation to an intangible fixed asset that has no balance sheet value (or no longer has a balance sheet value), subsections (1) and (2) apply as if it did have a balance sheet value.

4 References in this Part to a “part realisation” are to a realisation falling within subsection (1)(b).