Corporation Tax Act 2009 section 911

Overview of Chapter

Section 911 introduces Chapter 3, which deals with the corporation tax treatment of profits arising from the sale of patent rights.

• Profits from sales of patent rights are subject to a charge to corporation tax on income.
• The Chapter sets out how the chargeable amount is calculated and taxed, including rules for UK resident companies and situations involving instalments or winding up.
• Related provisions cover matters such as the deduction of tax from payments to non-UK resident companies and the definition of key terms used in the Chapter.
• Where income tax is deducted at source from payments to non-UK resident companies for patent rights sales, that tax is treated as income tax paid by the recipient under separate Income Tax Act 2007 rules.