Part 4: Income tax, corporation tax and capital gains tax Section 33: Intangible fixed assets: goodwill etc. Details of the section New section 816A
Subsection (5) inserts new section 816A into Chapter 10. This section:
	Defines "relevant assets" for the purposes of the section;
	Excludes debits in relation to those assets from being a tax deduction under Chapter 3; and
	Makes any debit arising from the realisation of those assets a non-trading debit.
	Subsections (6) to (8) make consequential amendments to Part 8 and Finance Act 2015 to withdraw the amendments introduced in that Act that have been superseded by this section.
	Subsection (9) contains the commencement provisions. The changes apply from 8 July 2015.
	Subsection (10) disapplies the changes made by this measure to assets treated as acquired before commencement. This ensures that the rules relating to those assets at the time of acquisition continue to apply after commencement. Assets acquired between 3 December 2014 and 8 July 2015 where s849B applies will therefore continue to be treated as if the provisions of s849 C and s849D had not been withdrawn.
	Subsections (11) and (12) provide for the apportionment of debits where the accounting period straddles the commencement date.
	Subsection (13) makes further provision for determining when an asset is treated as acquired for the purposes of subsection (10).