Anne Fairpo

Anne Fairpo is a senior tax lawyer who has substantial and diverse experience of tax matters gained both within law and accounting practices. Anne was called to the bar in 2009 after 15 years as a solicitor; her experience and expertise covers UK and international corporate tax planning and disputes, acting for a range of clients from small owner-managed businesses to listed multinationals. Anne also has a particular interest in intellectual property taxation and UK-US cross-border tax planning, with regard to both direct and indirect tax matters.
Contributed to

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Amortisation of intangible fixed assets
Practice Note

This Practice Note explains the tax deduction that a company can claim for the amortisation of its expenditure on intangible fixed assets. The tax deduction will generally be the same as any amortisation charge, or deduction following an impairment review, in the company’s accounts. Where no accounting amortisation is available, a company can elect to take a fixed annual tax deduction based on the company’s expenditure on the asset. Produced in partnership with Anne Fairpo of Temple Tax Chambers.

Excluded intangible fixed assets
Practice Note

This Practice Note addresses a key question for companies in determining their tax treatment with respect to a particular intangible asset, which is whether or not it falls within the intangible fixed assets regime. It explains which assets are wholly excluded from the regime (eg assets held for non-commercial purposes or assets taxed under another regime such as loan relationships and derivative contracts), which assets are excluded except as to royalties (eg assets created or acquired before 1 April 2002) and which assets are excluded to a specified extent (eg assets representing expenditure on research and development). This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

Intangible fixed assets on the transfer of a trade
Practice Note

This Practice Note explains the circumstances in which relief is available from corporation tax when intangible fixed assets are transferred as part of the transfer of a business or trade. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

Intangible fixed assets transactions between related parties
Practice Note

This Practice Note considers the tax treatment of transactions in intangible assets between related parties within the corporate intangible fixed assets regime. It does not cover transfers between group companies. It looks at the definition of a related party, the key circumstances in which the related party rules apply, and the market value rule. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

Intangible fixed assets—anti-avoidance
Practice Note

This Practice Note explains the various anti-avoidance rules applying in the context of the intangible fixed assets regime, including the mini-GAAR applying to tax avoidance arrangements, the rule on cessation of UK residence, the loss-buying rule in relation to non-trade intangibles and the fungible assets repo rule. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

Know-how allowances
Practice Note

This Practice Note explains what constitutes qualifying expenditure and how know–how allowances (and any subsequent balancing charges or allowances) are calculated. Certain taxpayers can claim capital allowances in respect of qualifying capital expenditure on know-how. These allowances are principally available to individuals and other unincorporated entities for new acquisitions. Companies are only able to claim know–how allowances for intangibles fixed assets acquired by the company or a related party before 1 April 2002. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

Large company R&D relief (pre–1 April 2016) [Archived]
Practice Note

ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note describes the large company R&D relief, which was available until 1 April 2016 by way of an additional (30%) deduction in computing corporation tax profits. Alternatively, large companies could have claimed the R&D expenditure credit (which replaced the additional deduction from 1 April 2016).The note explains the meaning of large company and qualifying expenditure and considers the rules on expenditure on sub-contracted R&D. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

Patent allowances
Practice Note

This Practice Note explains what constitutes qualifying expenditure and how patent allowances (and any subsequent balancing charges or allowances) are calculated. Certain taxpayers can claim capital allowances in respect of patents. These allowances, which provide a deduction for capital expenditure, are principally available to individuals and other unincorporated entities for new acquisitions. Companies are only able to claim patent allowances for intangibles fixed assets acquired by the company or a related party before 1 April 2002. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

Patent box streaming calculation—grandfathered and new rules
Practice Note

This Practice Note explains the patent box streaming rules that a company may elect to use (and in some circumstance, be required to use) in calculating its profits eligible for relief under the patent box rules. It covers the grandfathered rules and also the rules that apply to new entrants and new intellectual property since July 2016. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

Patent box—companies with relevant IP losses
Practice Note

This Practice Note explains what a company can do with a relevant IP loss (RIPL). A company in the early stages of IP developments may have a RIPL rather than relevant IP profits, as a result of its patent box calculation and will not benefit from patent box relief. Instead, the company must set off the RIPL against other of its, or its group’s, profits for the current or future accounting periods. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

Patent box—grandfathered rules—standard calculation of relief
Practice Note

This Practice Note explains how to carry out a standard (non-streamed) calculation of a company’s profits eligible for relief under the grandfathered patent box rules. The calculation involves six or seven steps, including calculating relevant IP income (RIPI), calculating relevant IP profits, deducting a routine return to produce qualifying residual profit and finally deducting a marketing assets return.

Patent box—key features of the regime
Practice Note

This Practice Note sets out the key features of the patent box regime, an elective regime providing for an effective 10% rate of corporation tax on worldwide profits attributable to qualifying patents and similar intellectual property rights. It considers the meaning of qualifying IP rights; the development condition; a qualifying company; an exclusive licence; and a group. It covers elections and how the regime applies to partnerships and cost-sharing arrangements. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

Qualifying R&D expenditure
Practice Note

This Practice Note sets out the numerous conditions that must be met by a company's expenditure for it to qualify for R&D tax relief. It discusses the requirement that the expenditure must be revenue (and not capital) in nature and related to the company’s trade, the specified categories of qualifying expenditure and the particular rules relating to subsidised expenditure and sub-contracted R&D. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

R&D capital allowances
Practice Note

This Practice Note sets out what constitutes qualifying capital expenditure for the purposes of R&D allowances and how the deduction (of up to 100%) may be claimed in the period in which the expenditure is incurred. R&D capital allowances are available to all taxpayers carrying on a trade. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

R&D expenditure credit
Practice Note

This Practice Note explains the R&D expenditure credit (RDEC and known during consultation as ‘above the line’ (ATL) credit) which, from 1 April 2016, replaced the enhanced deduction by way of large company R&D relief. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

R&D reliefs—meaning of R&D
Practice Note

This Practice Note explains the meaning of research and development (R&D) for the purposes of R&D tax relief for companies. Very broadly, R&D for tax purposes takes place within a project that seeks to achieve an advance in science or technology. This note also provides details of when R&D starts and when R&D ends, with particular reference to the production of prototypes. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

Roll-over relief for intangible fixed assets
Practice Note

This Practice Note sets out the circumstances in which roll-over relief will be available to companies (or groups of companies) under the intangible fixed assets (IFA) regime to defer the tax charge on gains on realisation of intangible fixed assets (including certain realisations of pre-1 April 2002 intangible fixed assets). The rules are similar, but not identical, to the roll-over relief rules for capital gains of companies. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

Election under CTA 2009, s 792 to reallocate intangible fixed asset degrouping charge to another member of a group
Precedent

This Precedent letter can be used by members of a group of companies to make a joint election to reallocate the whole or part of a degrouping charge (but not a degrouping loss) in respect of intangible fixed assets from one group company to one or more other group companies. Such election must be made within two years of the end of the accounting period in which the degrouping charge arises.

Other work

How intangible fixed assets are taxed—basic principles

This Practice Note sets out the key features of the corporation tax regime for intangible fixed assets, including relief for expenditure upon, and taxation of receipts from, trading and non-trading intangible fixed assets. Intangible fixed assets are taxed and relieved as income, and relief may be given as expenditure is incurred, on an accounting basis or at a fixed annual rate. This Practice Note was produced in partnership with Anne Fairpo of Temple Tax Chambers.

Practice areas

Qualifications

  • MA (Oxon), CTA (Fellow)

Membership

  • Chartered Institute of Taxation (Council Member and Trustee), Revenue Bar Association, VAT Practitioners Group, American Bar Association, Taxation

Panel

  • Consulting Editorial Board
  • Contributing Author

Education

  • University of Oxford, CTA

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