Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Fixed assets definition

What does Fixed assets mean? In legal and transactional practice, fixed assets are the long-term resources of a company—such as land and buildings, plant and machinery, office equipment, vehicles and certain intangibles—held for continuing use in the business to generate profits, rather than for resale. The term is descriptive and used across company law, finance and insolvency. In statutory accounts, the Companies Act 2006 (UK) and Companies Act 2014 (Ireland) balance sheet formats refer to fixed assets, typically analysed as intangible assets, tangible assets and investments. Under UK and Irish GAAP (FRS 102) and IFRS, the parallel concept is non-current assets or property,...

UK Corporation Tax: Roll-over Relief for Intangible Fixed Assets (CTA 2009 Part 8)—Conditions, Exclusions, Claims, Computation, Group Reinvestments, Degrouping and Pre‑FA 2002 Assets

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Practice notes

Roll-over relief under the corporate intangible assets regime in Part 8 of Corporation Tax Act 2009 (CTA 2009)

This Practice Note considers the roll-over relief available under the corporate intangible assets regime in Part 8 of the Corporation Tax Act 2009 (CTA 2009). Relief is not automatic; it must be claimed. It applies where a company realises an IFA (the old asset) and then incurs expenditure to acquire another IFA (the new asset). The rules can likewise apply if the new asset is obtained by another company within the same IFA group. In broad terms, the regime postpones all or part of the taxable credit that would arise on the realisation of the old asset. That deferred credit is brought back into charge when the new asset is realised (unless roll-over relief is also claimed on that later event). Crucially, where debits have been taken into account for the old asset—such as tax relief for amortisation—the deferral will not cover the entire amount of the realisation credit. An analogous roll-over relief exists for capital assets charged under The Taxation of Chargeable Gains Act 1992 (TCGA 1992). For further details, see Practice Note: Rollover relief for business assets...

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Web page updated on 22/05/2026

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