CIRD11630 - Intangible assets within FA02/SCH29: time test: general conditions: asset acquired from related party in qualifying circumstances: asset within FA02/SCH29 in hands of transferor

FA02/SCH29/PARA118 (2)(a)

This is the first of three qualifying circumstances set out in CIRD11625 in which an asset acquired from a ‘related party’ (see CIRD45105 onwards) on or after 1 April 2002 satisfies the general conditions.

If the asset in the hands of the company from which it was acquired was a ‘chargeable intangible asset’ (see CIRD20035) then it satisfies the test.