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Capital Allowances Act 2001

Overview

1648.This Chapter introduces patent allowances. They are given to persons incurring qualifying expenditure on the purchase of patent rights. The Chapter defines “patent rights”. It contains extensions to deal with licences and cases if a patent has not yet been granted for an invention. “Qualifying expenditure” is defined in Chapter 2.

1649.Section 464 requires qualifying expenditure on purchasing patent rights in order for allowances to be given and defines “patent rights”.

1650.Section 465 extends this Part to deal with certain cases concerning rights in respect of an invention if a patent has not yet been granted.

1651.Section 466 extends this Part to deal with grants of licences in respect of patents.

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