416 Election for application of sections 415 and 585
Corporation Tax Act 2009 (2009 c 4) | Legislation

416  Election for application of sections 415 and 585

(1)     This section applies if—

(a)     a company is subject to old UK GAAP for a period of account,

(b)     at the beginning of its first relevant period of account the company did not hold any assets (“relevant assets”) which it is not permitted under old UK GAAP to treat as mentioned in section 415(1),

(c)     the company subsequently acquires one or more relevant assets (to which sections 415 and 585 do not

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