Section 897 — Corporation Tax Act 2009: Application to pre-FA 2002 assets consisting of telecommunication rights

Application to pre-FA 2002 assets consisting of telecommunication rights 897 1 This Part applies to a pre-FA 2002 asset consisting of a licence or other right within Chapter 10 of Part 2 of ITTOIA (certain telecommunication rights) (see section 146 of that Act).

2 This Part applies in relation to such assets as if amounts brought into account for tax purposes under Schedule 23 to FA 2000 in accounting periods ending before 1 April 2002 had been so brought into account under this Part.

3 This subsection applies if the asset—

a was acquired before the beginning of the first accounting period ending on or after 1 April 2002, and b was a chargeable intangible asset immediately after the beginning of that period.

4 If subsection (3) applies, the asset is treated for the purposes of Chapter 7 (roll-over relief on realisation and reinvestment) as if it had been a chargeable intangible asset at all material times between its acquisition and the beginning of the first accounting period ending on or after 1 April 2002.