[1112E Exception for companies creating or managing intellectual property]
Corporation Tax Act 2009 (2009 c 4) | Legislation

[1112E  Exception for companies creating or managing intellectual property]

[(1)     There is no cap by reference to a company's PAYE and NIC liabilities for an accounting period if the company meets conditions A and B.

(2)     A company meets condition A for an accounting period if, during the period, the company is engaged in—

(a)     taking, or preparing to take, steps in order that relevant intellectual property will be created by it,

(b)     creating relevant intellectual property, or

(c)     performing a significant amount of management activity in relation to relevant intellectual property it holds.

(3)     For the purposes of subsection (2)—

(a)     a company is only engaged

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