The following Corporation Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:
One of the requirements of the qualifying company conditions set out in CTA 2010, s 357B is that the company must hold a qualifying intellectual property (IP) right or must hold an exclusive licence in respect of such a right. Please refer to the Patent box ― qualifying companies guidance note for more detail on the qualifying company conditions and the additional criteria that must be satisfied.
The rights which must be owned by a company in order to benefit from the patent box and the meaning of an exclusive licence to such rights are set out below.
A right is a qualifying IP right if it is listed in CTA 2010, s 357BB and s 357BBA. The list is as follows:
patents granted under the UK Patents Act 1977 by the UK Intellectual Property Office (UK IPO)
patents granted under the European Patent Convention by the European Patent Office (EPO)
patents issued by other specified EEA national authorities (see the list below)
supplementary protection certificates relating to medicinal or plant protection products granted by the UK IPO or EPO
UK plant breeders and European plant variety rights
certain UK and European data or marketing regulatory exclusivity rights for medicinal, veterinary or plant products
inventions that have not been granted a patent under the UK Patents Act 1977 solely on grounds of national security or public safety
Patents which have been granted under the European
**Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason.
Access this article and thousands of others like it free for 7 days with a trial of TolleyGuidance.
Read full article
Already a subscriber? Login
Class 2 and Class 4 national insurance contributions (NIC) are paid by self-employed individuals and partners in a partnership on their profits arising within the UK. This guidance note considers Class 4 contributions. For Class 2 contributions, see the Class 2 national insurance contributions
Trust property, which is the subject of a qualifying interest in possession (QIIP), may become chargeable to inheritance tax on the following occasions:•on the death of the beneficiary with the interest in possession•on the death of the beneficiary within seven years after a transfer or lifetime
Special rate poolExpenditure on some types of plant or machinery must, if neither annual investment allowance (AIA) nor first year allowances (FYAs) are available, be allocated to a ‘special rate pool’. Expenditure to be allocated to the special rate pool consists of expenditure incurred
The corporate interest restriction (CIR) essentially limits the amount of interest expense a company can deduct from its taxable profits if the interest expense is over £2 million. The actual mechanics of the CIR calculation are highly complex (the legislation is over 150 pages long) and are
To view our latest tax guidance content, sign in to Tolley Guidance or register for a free trial.