1271 Sale of patent rights: effect of partnership changes
Corporation Tax Act 2009 (2009 c 4) | Legislation

1271  Sale of patent rights: effect of partnership changes

(1)     This section applies if each of the following conditions is met—

(a)     a person (“the trader”) sells the whole or part of any patent rights in carrying on a trade,

(b)     tax is chargeable under section 912 of this Act or section 587 of ITTOIA 2005 on the proceeds of the sale or on any instalment of those proceeds,

(c)     the tax is chargeable in one or more accounting periods or tax years (referred to in this section as “the tax charge periods”),

(d)     there is a change in the persons carrying on the trade at any time between the beginning of the first of those tax charge periods and the end of the last of them, and

(e)     the partnership condition and the continuity condition are met.

(2)

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