Mr. Niall Cody:

If it is useful for the Deputy I will read the note on the summary of the reliefs in the form of capital allowances. The scheme provided for in section 291A:

applies to a broad range on intangible assets (e.g. patents, copyright, trademarks, know-how) [and the goodwill to the extent linked with these] which are recognised as such under generally accepted accounting practice and which are listed as "specific intangible assets" in section 291A. ... Specified intangible assets are treated as machinery and plant for the purposes of allowances provided [under the scheme]. ... Allowances available under section 291A are based on the amount charged to a company's Profit and Loss account or Income Statement for the accounting period in respect of the amortisation or impairment of the specified intangible asset. However, companies can opt instead for a fixed write-down period of 15 years at an annual rate of 7% of qualifying expenditure for 14 years and 2% in the final year. ...

A company must be trading to qualify for capital allowances (although pre-trading expenditure is eligible for allowances) and the specified intangible asset(s) on which capital expenditure is incurred must be used for the purposes of its trading activity. The expenditure must be incurred for bona fide commercial reasons and not as part of any tax avoidance scheme.

Claims must be made within 12 months of the end of the accounting period in which the capital expenditure has been incurred