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The corporate intangible regime applies to all 'intangible fixed assets', this term has the same meaning as for accounting purposes and includes internally generated intangible assets and intellectual property¹. It is also expressly stated that the intangible regime applies to goodwill on the same basis as it applies to intangible fixed assets but that this is subject to any indication to the contrary². There have been several changes in the relief available for goodwill over the past few years, for further details see D1.629A–D1.629C.

The expression 'for accounting purposes' means for the purposes of accounts drawn up in accordance with generally accepted accounting practice (GAAP)³, for details see D1.611.

An intangible fixed asset is further defined in relation to a company as an intangible asset acquired or created by the company for use on a continuing basis in the course of the company's activities⁴