Commentary on Sections Overview Chapter 1: Introduction Section 713: “Intangible fixed asset”
1976.This section explains what is meant by “intangible fixed asset”. It is based on paragraph 3 of Schedule 29 to FA 2002.
1977.Subsection (2) is an important general extension to the rules. That is, if an asset is an “intangible fixed asset” under the rules in this Part, so is an option or other right to acquire or dispose of that asset. There is a counterpart, obverse rule in section 805.