Section 900L — Corporation Tax Act 2009: Realisation of fungible assets: pre-FA 2002 assets and restricted assets

Realisation of fungible assets: pre-FA 2002 assets and restricted assets 900L 1 This section applies if—

a a company realises a fungible asset, and b apart from subsection (1) of section 900K, the asset would be treated as part of a single asset comprising more than one of the kinds of asset referred to in that subsection.

2 The realisation is treated—

a as diminishing a single asset of the company comprising pre-FA 2002 assets in priority to diminishing a single asset of the company comprising restricted assets or a single asset of the company comprising standard intangible fixed assets, and b as diminishing a single asset of the company comprising restricted assets in priority to diminishing a single asset of the company comprising standard intangible fixed assets.