64 Profits from the exploitation of patents etc
Finance Act 2016 (2016 c 24) | Legislation

Exploitation of Patents etc

64  Profits from the exploitation of patents etc

(1)     Part 8A of CTA 2010 (profits arising from the exploitation of patents etc) is amended as follows.

(2)     In section 357A (election for special treatment of profits from patents etc)—

(a)     for subsections (6) and (7) substitute—

“(6)     Chapter 2A makes provision for determining the relevant IP profits or relevant IP losses of a trade of a company for an accounting period in a case where—

(a)     the accounting period begins on or after 1 July 2021, or

(b)     the company is a new entrant (see subsection (11)).

(7)     Chapters 2B, 3 and 4 make provision for determining the relevant IP profits or relevant IP losses of a trade of a company for an accounting period in various cases where—

(a)     the accounting period begins before 1 July 2021, and

(b)     the company is not a new entrant.”, and

(b)     after subsection (10) insert—

“(11)     A company is a “new entrant” for the purposes of this Part if—

(a)     the first accounting period for which the company's election (or most recent election) under subsection (1) has effect begins on or after 1 July 2016,

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Negligent misstatement—defences and remedies

Negligent misstatement—defences and remediesThere are a number of ways in which liability for negligent misstatement may be avoided and/or limited. For details on founding a claim of negligent misstatement, see Practice Note: Negligent misstatement—founding a claim.For guidance generally on clauses

LEXISNEXIS

Money laundering offences—tipping off and prejudicing an investigation

Money laundering offences—tipping off and prejudicing an investigationTipping off and prejudicing an investigationIt would undermine the benefit to the authorities if, a suspicious activity report (SAR) having been made, the alleged offender were to be made aware of the interest in their activities

LEXISNEXIS

Acknowledgment of service

Acknowledgment of serviceThis Practice Note explains when an acknowledgment of service is required (CPR 10) and the consequences of a failure to file an acknowledgment of service. It identifies the correct form to use, what information must be included and who must to sign the form. The different

LEXISNEXIS

Tort—the different types of tort

Tort—the different types of tortThis Practice Note identifies the main torts (bar negligence and nuisance, which are covered elsewhere in our related content) and their key characteristics. Specifically:•trespass to land•trespass to the person•privacy/defamation•liability for animals•employers'