197 Eligible tangible asset amount
Finance (No 2) Act 2023 (2023 c 30) | Legislation

197  Eligible tangible asset amount

[(1)     To determine the eligible tangible asset amount of a member of a multinational group for an accounting period—

(a)     add together—

(i)     the sum of the recorded carrying values of each eligible tangible asset held by the member at the start of the period, and

(ii)     the sum of the recorded carrying values of each eligible tangible asset held by the member at the end of the period, and

(b)     divide the result of paragraph (a) by 2.]

(2)     . . .

(3)     “Recorded” means recorded for the purposes of preparing the consolidated financial statements of the ultimate parent.

(4)     For the purposes of this section “carrying value” means the carrying value of the asset including—

(a)     accumulated depreciation, amortisation or depletion,

(b)     amounts attributable to the capitalisation of eligible payroll costs and costs that would be eligible payroll costs were they not excluded costs under section 196(4), . . .

(c)     amounts attributable to any purchase accounting adjustment relating to the asset,

[(d)     any impairment loss,

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