F1PART 8AProfits arising from the exploitation of patents etc
Annotations:
Amendments (Textual)
F2CHAPTER 2ARelevant IP profits: cases mentioned in section 357A(6)
Annotations:
Amendments (Textual)
F2
Pt. 8A Chs. 2A, 2B inserted (with effect in accordance with s. 64(7) of the amending Act) by Finance Act 2016 (c. 24), s. 64(3)
Small claims treatment
357BNANotional royalty election
1
Subsection (2) applies where a company has made a notional royalty election for an accounting period under section 357BN(2)(a).
2
In its application for the purposes of determining the relevant IP profits of the trade of the company for the accounting period, section 357BHA (notional royalty) has effect as if—
a
in subsection (2) for “the appropriate percentage” there were substituted “
75%
”
, and
b
subsections (3) to (6) were omitted.
Pt. 8A inserted (with effect in accordance with Sch. 2 paras. 7, 8 of the amending Act) by Finance Act 2012 (c. 14), Sch. 2 para. 1(1)