Jurisdiction(s):
United Kingdom

Key definition

Intangible fixed asset definition

What does Intangible fixed asset mean? An intangible fixed asset is a non-physical, long-term asset a company acquires or creates for ongoing use in its business (for example goodwill, patents, trade marks, software, databases, licences and know‑how), rather than for immediate resale. For UK corporation tax, the term is defined in CTA 2009, Part 8 and is central to the intangible fixed assets regime. It also includes an option or other right to (a) acquire an intangible that would be a fixed asset if acquired, or (b) dispose of an existing intangible fixed asset. The regime applies whether or not the asset is capitalised...

UK corporation tax: intangible fixed assets on business or trade transfers—tax-neutral reconstructions, EU mergers/transfers, branch incorporation and notional double tax relief (CTA 2009 Part 8)

Published by a LexisNexis Tax expert

Practice notes

Under Part 8 of the Corporation Tax Act 2009 (CTA 2009), the starting point for the corporate intangible assets regime is that a company measures gains and losses on its intangible fixed assets (IFAs) as corporation tax credits and debits, for corporation tax purposes, by reference to the way those IFAs are accounted for. Put simply, accounts drawn up in line with generally accepted accounting practice (GAAP) provide the basis from which the figures and categories that become taxable or relievable in relation to a company’s IFAs are determined. This approach is commonly known as ‘tax following the accounts’. That said, the regime contains a number of carve-outs: on certain matters the rules override the accounting outcome and mandate that IFA credits and debits are worked out using an alternative method instead, calculated on a different basis overall. For more on the tax treatment of IFAs generally, see Practice Note: How intangible fixed assets are taxed—basic principles...

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Web page updated on 22/05/2026

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