Section 741 — Corporation Tax Act 2009: Meaning of “chargeable intangible asset” and “chargeable realisation gain”

Meaning of “chargeable intangible asset” and “chargeable realisation gain” 741 1 For the purposes of this Part, an asset is a “ chargeable intangible asset ” in relation to a company at any time if any gain on its realisation by the company at that time would be a chargeable realisation gain.

2 For the purposes of this Part, “ chargeable realisation gain ”, in relation to an asset, means a gain on the realisation of the asset that gives rise to a credit required to be brought into account under this Chapter.

3 For the purposes of subsections (1) and (2), there is a gain on the realisation of an asset in any case if section 735(2), 736(2) or 738(2) applies.

4 For the purpose of subsections (1) and (2), ignore any question whether—

a relief under Chapter 7 (roll-over relief in case of realisation and reinvestment) is available, or b a transfer of an asset is tax-neutral for the purposes of this Part (see section 776).