Section 483 Meaning of “income from patents”

United Kingdom

For the purposes of this Part a person’s “income from patents” means—

(a)

royalties or other sums paid in respect of the use of a patent,

(b)

balancing charges to which the person is liable under this Part, and

(c)

amounts on which tax is payable under F1section 587, 593 or 594 of ITTOIA 2005 or under F2section 912 or 918 of CTA 2009 (taxation of receipts from sale of patent rights).

Annotations

Textual amendments

F1: Words in s. 483(c) inserted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5) , s. 883(1) , Sch. 1 para. 567 (with Sch. 2 )
F2: Words in s. 483(c) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 513 (with Sch. 2 Pts. 1, 2)