903 Deduction from patent royalties
Income Tax Act 2007 (2007 c 3) | Legislation

Duty to deduct from patent royalties

903  Deduction from patent royalties

(1)     This section applies to any payment made in a tax year if—

(a)     it is a payment of a royalty or other sum in respect of the use of a patent, and

(b)     it meets the conditions in subsections (2) to (4).

(2)     The payment must not be—

(a)     a qualifying annual payment, or

(b)     an annual payment to which section 904 applies (annual payments for dividends or non-taxable consideration).

(3)

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