Irish Taxation Institute: Educating, Developing and Representing

Revenue answer common questions on intangible assets' tax relief

13 July 2010

Tax Briefing No. 09/10 (published on 13 July) highlights the Finance Act 2010 amendments to the scheme of capital allowances for expenditure incurred on intangible assets (under section 291A TCA1997). The section provides relief, in the form of capital allowances, against trading income for companies incurring capital expenditure on the provision of intangible assets for the purposes of a trade. Finance Act 2010 made a number of amendments to enhance the regime. 

In the Tax Briefing Revenue explain the changes and answer a number of FAQs on the relief, including Revenue's position on advance opinions on whether activities qualify as trading, capital allowances on non-depreciating assets and clarification on the offset of allowances against trading profits. 

The Tax Briefing is available by clicking here.