Intangible fixed assets
In this lesson, you'll learn how intangible fixed assets are treated for corporation tax purposes—a topic that appears regularly across several marks in advanced tax exams.
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In this lesson
- 0:00 Corporation tax computations overview
- 0:50 Intangible fixed assets explained
- 1:33 4% writing down allowance election
- 2:19 Disposing of intangible assets
- 3:40 Calculating tax written down value
- 5:10 Goodwill disposal treatment
About this lesson
You'll discover what counts as an intangible asset (goodwill, patents, copyrights, trademarks, and know-how), how to calculate tax relief, and the critical 4% writing down allowance election that can maximise your deduction when accounting amortisation is lower. The lesson covers the key decision points: when to elect for 4% relief instead of following accounting treatment, how to handle disposals of intangible assets, and the different tax treatment of goodwill losses compared to other intangibles. With worked examples showing the calculation of tax written down values and taxable profits on sale, you'll be equipped to handle these questions confidently in your ATX exam.
Duration: 6m
Transcript
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