527. Sales of patent rights.

Income tax is charged on profits from sales of the whole or part of any patent rights1 where the seller is UK resident2 or non-UK resident3 and the patent is granted under the laws of the United Kingdom4. The seller is liable in respect of the profits, being any capital sum comprised in the proceeds of sale, less the deductible costs, being the capital cost (if any) of the rights sold, and any incidental expenses incurred in connection with the sale5. If: (1) the seller acquired the rights sold, or the rights out of which they were granted, by