Section 745 — Corporation Tax Act 2009: Introduction

Introduction 745 1 Credits and debits to be brought into account for tax purposes under this Part are given effect in accordance with this Chapter.

2 Credits and debits in respect of assets held for the purposes mentioned in any of the following sections are given effect in accordance with that section—

a section 747 (assets held for purposes of trade),

b section 748 (assets held for purposes of property business),

c section 749 (assets held for purposes of mines, transport undertakings, etc).

3 Credits and debits in respect of intangible fixed assets that are not within sections 747 to 749 are dealt with in accordance with sections 751 to 753.

4 This section is subject to section 901 (effect of application of the I minus E basis: non-trading amounts).