Corporation Tax Act 2009 section 714

"Royalty"

Section 714 defines the meaning of "royalty" for the purposes of the intangible fixed assets regime in Part 8 of the Act.

• A royalty is a payment made in respect of the enjoyment or exercise of certain rights.
• Those rights must constitute an intangible fixed asset as defined within Part 8.
• This definition applies consistently throughout the whole of Part 8.
• The definition links royalty payments directly to the intangible fixed assets rules, ensuring they are taxed under this regime.