Commentary

B3.609 Patent rights deduction and relief for expenses

Business tax
Business tax | Commentary

B3.609 Patent rights deduction and relief for expenses

Business tax | Commentary

B3.609 Patent rights deduction and relief for expenses

A deduction is made in computing trading profits for expenses incurred in obtaining, for the purposes of a trade, the grant of a patent, or an extension of the term of a patent1. For income tax purposes the provision does not apply to a profession or vocation2. An allowance for the whole of that expenditure is also available to non-traders, made in the same way as a capital allowance for expenditure on patent rights3.

Fees paid or expenses incurred in connection with any application for a patent, where that application has been rejected

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