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 substantial shareholding exemption (SSE) provides a complete exemption from the liability to corporation tax on the gains generated from qualifying disposals of shares and interests in shares by qualifying companies. Conversely, if losses are generated by the disposal and the SSE conditions are
This note offers guidance in respect of the administration of company tax returns. If a company or organisation is subject to corporation tax they will have to complete and file a company tax return for each accounting period. A company or organisation must, in the main, file a return even if they
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
Class 1 and Class 1AClass 1 and Class 1A are the categories of NIC that can be charged on expenses reimbursed and benefits provided to employees. These classes are mutually exclusive. A benefit cannot be subject to both Class 1 and Class 1A NIC. Three requirements must be met before Class 1A NIC is
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