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Consultation on corporate intangible fixed assets regime

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The government is consulting until 11 May 2018 on the scope for changes to the corporate intangible fixed assets regime, which was first introduced in 2002.

Specific aspects of the regime on which views are sought include:

  • the impact of the commencement rule (pre-FA02 rule) which excludes assets in existence at 1 April 2002;
  • the impact of the restriction on goodwill and customer related intangibles on the complexity and competitiveness of the regime;
  • the use and competitiveness of the election for a 4% per annum fixed rate of relief; and
  • the impact of the regime’s de-grouping rules on mergers and acquisitions.

The Office of Tax Simplification identified the pre-FA02 rule as a suitable area for reform in its July 2017 report, Simplification of the corporation tax computation.

The government announced at Autumn Budget 2017 its intention to consult on a review of the regime. See http://bit.ly/2sGrgey.

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