Section 856 — Corporation Tax Act 2009: Assets acquired or realised together

Assets acquired or realised together 856 1 Any reference in this Part to the acquisition or realisation of an asset includes a reference to the acquisition or realisation of that asset together with other assets.

2 For the purposes of this Part assets acquired or realised as a result of one bargain are treated as acquired or realised together even though—

a separate prices are, or purport to be, agreed for separate assets, or b there are, or purport to be, separate acquisitions or realisations of separate assets.

3 If assets are acquired together, any values allocated to particular assets by the company in accordance with generally accepted accounting practice must be accepted for the purposes of this Part.

4 If no such values are so allocated, so much of the expenditure as on a just and reasonable apportionment is properly attributable to each asset is treated for the purposes of this Part as referable to that asset.

5 If assets are realised together, so much of the proceeds of realisation as on a just and reasonable apportionment is properly attributable to each asset is treated for the purposes of this Part as proceeds of the realisation of that asset.