CIRD11705 - Intangible assets within FA02/SCH29: time test exceptions: royalties: outline

FA02/SCH29/PARA119

Because Schedule 29 at most only changes the time when royalties are brought to account for corporation tax (see CIRD11700) they are immediately brought within Schedule 29, regardless of when the intangible asset in respect of which they are paid or received was created or acquired.

The royalties which are brought within Schedule 29 in this way are those which:

• fall within the definition of a royalty in CIRD11710,
• arise at the time described in CIRD11720.