The following Corporation Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
In order for a licence to satisfy the conditions required for the preferential patent box treatment, the rights available under the licence must be conferred to the licensee to the exclusion of all others. However, an exclusive licence will not qualify for patent box treatment where the main purpose or one of the main purposes of conferring the rights under the licence is to secure that the licence is an exclusive licence for patent box purposes.
HMRC has confirmed that this anti-avoidance provision will not apply where there is a genuine commercial re-negotiation of the terms of
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The basic rule is that all benefits provided to an employee by reason of their employment are taxable unless there is a specific exemption or other rule that means they are not chargeable to tax.ExemptionsThe main exemptions for employee benefits are in ITEPA 2003, ss 227–326B (Pt 4).Below is an
Many people work from home either on an informal or a full-time basis. These people can be employed or self-employed, and their employment status affects the expenses they can claim as a deduction from their earnings.When dealing with someone working from home, it is important to remind him that
Why is this important?Tax-free amountEach individual, whether or not they are resident in the UK, is entitled to an annual exempt amount when calculating the taxable amount of their chargeable gains for the tax year (although see the exceptions below). The annual exempt amount is also known as the
Business asset disposal relief (previously known as entrepreneurs’ relief) is a capital gains tax (CGT) relief that allows business owners with chargeable gains on qualifying business assets to pay CGT at a rate of 10%. For disposals made on or after 11 March 2020, the relief is available on up to
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