Commentary

A4.442 Proceeds of sale of patent rights

Administration and compliance

A4.442 Proceeds of sale of patent rights

A4.442 Proceeds of sale of patent rights

Where a non UK-resident sells the whole or any part of any patent rights and is chargeable under the sale either to income tax1 or corporation tax2, the person by or through whom the proceeds of sale are paid must, on making any payment of the proceeds or instalment thereof, deduct from it a sum representing income tax on the chargeable amount3 at the basic rate in force for the year of payment4.

These provisions also apply to licences connected with patents, and rights to acquire future patent rights5.

If the person making the payment

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