# Corporation Tax Act 2009, Section 735: Asset written down for tax purposes


(1) This section applies if there is a realisation of an intangible fixed asset in respect of which debits have been brought into account for tax purposes.
(2) If the proceeds of realisation exceed the tax written-down value of the asset, a credit equal to the excess must be brought into account for tax purposes.
(3) If the proceeds of realisation are less than the tax written-down value of the asset, a debit equal to the shortfall must be brought into account for tax purposes.
(4) If there are no proceeds of realisation, a debit equal to the tax written-down value must be brought into account for tax purposes.
(5) References in this section to the tax written-down value of an asset are to its tax written-down value immediately before the realisation.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/735 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-735
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.