INTANGIBLE FIXED ASSETS. (a) Each Group Company has drawn up its accounts in accordance with generally accepted accounting practice and has brought into account for Taxation purposes debits under section 728 and section 729 of the CTA 2009.
(b) No claims or elections have been made by a Group Company under section 827 (transfers to non-UK resident company) or Chapter 7 Part 8 CTA 2009 (roll over relief on realisation and reinvestment) in respect of any intangible fixed asset of a Group Company.
INTANGIBLE FIXED ASSETS. 33.1. No debits or credits would arise for any Group Company under Part 8 CTA 2009 (intangible fixed assets) if any intangible fixed assets of any Group Company was disposed of for a consideration equal to the book value shown in or adopted for the purpose of the Accounts.
33.2. No Group Company holds or has held any right to which Part 8A of CTA 2010 applies or an exclusive licence in respect of such right within section 357BA of CTA 2010.
INTANGIBLE FIXED ASSETS. Intangible fixed assets belonging to the Part of the Enterprise, including all its items and accessions are registered, as being part of the assets, in appropriate records of the Contributor and they are defined in Annex No. 3 to this Agreement.
INTANGIBLE FIXED ASSETS. 16.1 For the purposes of this paragraph 16, references to intangible fixed assets mean intangible fixed assets and goodwill within the meaning of Part 8 of CTA 2009 and to which that legislation applies. References to an intangible fixed asset shall be construed accordingly.
16.2 The Disclosure Letter sets out the amount of expenditure on each of the intangible fixed assets of the Company and provides the basis on which any debit relating to that expenditure has been taken into account in the Accounts or, in relation to expenditure incurred since the Accounts Date, will be available to the Company.
16.3 No claims or elections have been made by the Company under Chapter 7 of Part 8 of CTA 2009 (Part 7 of Schedule 29 to the Finance Act 2002), or section 827 of CTA 2009 (paragraph 86 of Schedule 29 to the Finance Act 2002) in respect of any intangible fixed asset of the Company.
16.4 The Company does not hold nor has held any right to which Part 8A of CTA 2010 applies or an exclusive licence in respect of such right within section 357BA of CTA 2010.
INTANGIBLE FIXED ASSETS. 10.1 The Target has not incurred any expenditure on intangible fixed assets as defined in part 8 CTA 2009.
INTANGIBLE FIXED ASSETS. Software development (pound sign) Cost As at 1 April 1996 163,124 Additions 129,432 As at 31 December 1996 392,556 Additions include capitalised interest of (pound sign) 28,607 (prior period (pound sign)25,814). Amortisation of this asset is expected to commence in 1997. In the opinion of the directors, the value of this asset is substantially greater than its stated cost.
INTANGIBLE FIXED ASSETS. 9.13.1 The book value of each intangible fixed asset of the Company in or adopted for the purposes of the Accounts on which debits and credits are calculated for the purposes of Schedule 29 to the Finance Act 2002:-
9.13.1.1 does not exceed the written down value of such asset (where paragraph 20 is applicable as amended by paragraph 22 where appropriate); or
9.13.1.2 does not exceed the cost of such asset (where paragraph 21 is applicable as amended by paragraph 22 where appropriate) and there are no circumstances in which paragraph 23 would apply on the realisation of an asset.
9.13.2 No intangible fixed asset has been revalued since the Balance Sheet Date and, so far as the Sellers are aware, there is no reason why an intangible fixed asset should be revalued pursuant to Part 3 of Schedule 29 to the Finance Xxx 0000.
9.13.3 The Company has not ceased to be a member of a group of companies for the purposes of Part 8 of Schedule 29 to the Finance Xxx 0000.
9.13.4 The Company has not made an election in accordance with Part 2 (writing down at fixed rate) and the Company has not nor has any company which was a member of the same group of companies at the relevant time made any claims, elections or clearance applications in accordance with Part 7 (roll-over relief) or Part 9 (reallocation of degrouping charge within Group) of Schedule 29 to the Finance Xxx 0000.
9.13.5 The Company has not been a party to or involved in any tax-neutral transaction pursuant to Part 9 (transfers within a Group etc.) or Part 11 (transfer of business or trade) of Schedule 29 to the Finance Xxx 0000.
9.13.6 The Company has not acquired any intangible fixed assets in circumstances in which Part 12 (transactions between related parties) of Schedule 29 to the Finance Xxx 0000 would apply.
9.13.7 The Company has not entered into any tax avoidance arrangements as described in paragraph 111 of Schedule 29 to the Finance Xxx 0000.
INTANGIBLE FIXED ASSETS. 38.1 No debits or credits would arise for the Company pursuant to schedule 29 Finance Xxx 0000 if any intangible fixed asset of the Company was disposed of for a consideration equal to the book value shown in or adopted for the purpose of the Accounts.
38.2 The Company has not made and is not entitled to make any claim to have the cost for Taxation purposes of any intangible fixed asset reduced by reference to the proceeds of realisation of any other intangible fixed asset.
38.3 The Accounts have been prepared in accordance with UK generally accepted accounting practice and bring into account for Taxation purposes debits under paragraphs 8 (Expenditure written off as it is incurred) or 9 (Writing down on accounting basis) of schedule 29 Finance Xxx 0000.
INTANGIBLE FIXED ASSETS. The following shall be included in the present sale as part of the company division assigned: All designs, calculations, plans, manufacturing schedules, software, manuals and all material involved in the production of mechanical and electrical parts of the machinery and the electronic systems working and controlling the machinery, patents, distinctive signs including the use of the company name, software and licences for the company ITC system, all of which specified by the Buyer in the purchase offer contained in Article 15 of the leasing agreement and the subsequent letter of amendment dated 11 February 2011. The Seller undertakes to make every possible effort to aid in the assignment of patents held and patents for which applications have been filed to the Buyer who shall pay any associated costs. The Buyer hereby acknowledges that a portion of the intangible fixed assets indicated above are currently not available to "C.V.S.*Costruzione Veicoli Speciali S.p.A." in liquidation and subject to composition with creditors, but are currently available to and held by third parties. The Buyer also acknowledges that such holders-possessors might refuse to deliver such assets or assert rights over them. The Buyer assumes full responsibility for this latter eventuality, hereby releasing and holding harmless the Seller from every obligation, objection, or claim arising as a result of the failure to acquire the said assets, and for any claims made against CVS Costruzione Veicoli Speciali SPA in liquidation and subject to composition with creditors should such assets be found to be defective, unsuitable or lacking.
INTANGIBLE FIXED ASSETS. 5.1 Otherwise than as provided for in the Accounts, if the Company disposed of each of its assets which qualifies for capital allowances, or disposed of any pool of such assets (that is to say all those assets expenditure relating to which would be taken into account in computing whether a balancing charge would arise on a disposal of any of those assets) for a consideration equal to their book value as shown in or adopted for the purpose of the Accounts, no balancing charge would arise in respect of any such asset or pool of assets under any legislation relating to capital allowances.
5.2 If the Company realised each of its intangible fixed assets to which Schedule 29 to the Finance Xxx 0000 applies for a consideration equal to its book value as shown in or adopted for the purposes of the Accounts, no credit would be required to be brought into account.
5.3 All intangible fixed assets (including goodwill) owned by the Company and treated for tax purposes as assets falling within Schedule 29 FA 2002 (gains and losses of a company from intangible fixed assets) are disclosed.
5.4 During the period of six years prior to Completion the Company has not been treated as a member of a group for tax purposes.
