# Corporation Tax Act 2009, Section 879B: Requirement to write down at a fixed rate

Extent: E+W+S+N.I.

(1) This section applies if a company acquires or creates a relevant asset on or after 1 April 2019.
(2) The company is to be treated as having made an election under section 730 to write down the cost of the asset for tax purposes at a fixed rate.
(3) In its application in relation to the asset, section 731 (writing down at fixed rate: calculation) has effect as if in subsection (1)(a) for “4%” there was substituted “ 6.5% ”.
(4) The Treasury may by regulations amend subsection (3) so as to alter the percentage substituted for 4%.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/879B (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-879B
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.