Many businesses spend substantial monies on intangibles like building websites, advertisements etc and the question crops up how to treat them for taxation purposes.
| Sole trader/ partnership | Not Allowed |
| Limited Companies | Allowed under under `Corporate intangible assets regime`.
Tax deduction follows the accounting books. See HMRC toolkit: Capital Vs Revenue Page 4. |
Moral of the story:
- Use the toolkits regularly.
- Please use the current year’s toolkit
