306 Excluded activities: receipt of royalties and licence fees
Income Tax Act 2007 (2007 c 3) | Legislation

306  Excluded activities: receipt of royalties and licence fees

(1)     This section supplements section 303(1)(e) (receipt of royalties and licence fees).

(2)     If the requirement of subsection (3) is met, a trade is not to be regarded as consisting in the carrying on of excluded activities within section 303(1)(e) as a result only of its consisting to a substantial extent in the receiving of royalties or licence fees.

(3)     The requirement of this subsection is that the royalties or licence fees (or all

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