Modifications etc. (not altering text)
C1Pt. 8 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 6(1)
C2Pt. 8 modified (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 601, 1184(1) (with Sch. 2)
C3Pt. 8 modified (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 2 para. 6(1); S.I. 2011/2329, art. 3
C4Pt. 8 modified (15.11.2011 for specified purposes, 30.3.2012 for E.W.) by Localism Act 2011 (c. 20), ss., 240(5)(o), Sch. 24 para. 1(3); S.I. 2012/628, art. 3(b)
C5Pt. 8 modified (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 4 para. 3(1); S.I. 2011/2576, art. 5
C6Pt. 8 modified (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 88(1)(2)(7) (with s. 147, Sch. 17)
C7Pt. 8 modified (6.4.2020) by Finance Act 2019 (c. 1), Sch. 5 paras. 35, 45 (with Sch. 5 para. 36)
(1)Credits and debits to be brought into account for tax purposes under this Part are given effect in accordance with this Chapter.
(2)Credits and debits in respect of assets held for the purposes mentioned in any of the following sections are given effect in accordance with that section—
(a)section 747 (assets held for purposes of trade),
(b)section 748 (assets held for purposes of property business),
(c)section 749 (assets held for purposes of mines, transport undertakings, etc).
(3)Credits and debits in respect of intangible fixed assets that are not within sections 747 to 749 are dealt with in accordance with sections 751 to 753.
(4)This section is subject to section 901 (effect of application of the I minus E basis: non-trading amounts).
(1)In this Part credits and debits in respect of intangible fixed assets that are not within sections 747 to 749 are referred to respectively as “non-trading credits” and “non-trading debits”.
(2)See also—
(a)section 781(5) (character of credits and debits brought into account as a result of section 780),
[F1(b)section 793A (effect of election to reallocate charge within group),]
[F2(ba)sections 879C(3), 879I(3), 879K(5) and 879O(3)(b) (debits in respect of goodwill and certain other assets treated as non-trading debits),] and
(c)[F3section 901] (insurance companies: effect of application of the I minus E basis: non-trading amounts).
Textual Amendments
F1S. 746(2)(b) substituted (6.4.2020) by Finance Act 2019 (c. 1), Sch. 5 paras. 22, 35 (with Sch. 5 para. 36)
F2S. 746(2)(ba) substituted (with effect in accordance with Sch. 9 para. 7 of the amending Act) by Finance Act 2019 (c. 1), Sch. 9 para. 4
F3Words in s. 746(2)(c) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 173