Section 756 — Corporation Tax Act 2009: Conditions relating to expenditure on other assets

Conditions relating to expenditure on other assets 756 1 The expenditure on other assets must be incurred in the period—

a beginning 12 months before the date of realisation of the old asset or at such earlier time as an officer of Revenue and Customs may by notice allow, and b ending 3 years after the date of realisation of the old asset or at such later time as an officer of Revenue and Customs may by notice allow.

2 The expenditure on other assets must be capitalised by the company for accounting purposes.

3 Immediately after the expenditure is incurred the other assets must be chargeable intangible assets in relation to the company.

4 For the purposes of this section expenditure is treated as incurred when it is recognised for accounting purposes.