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[F1PART 8AU.K.Profits arising from the exploitation of patents etc

Textual Amendments

F1Pt. 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)

CHAPTER 4U.K.Streaming

357DARelevant IP profitsU.K.

(1)To determine the relevant IP profits of a trade of a company for an accounting period in accordance with this section—

(2)If the amount given by subsection (1) is greater than nil, that amount is the relevant IP profits of the trade for the accounting period.

(3)If the amount given by subsection (1) is less than nil, that amount is the relevant IP losses of the trade for the accounting period (see Chapter 5).

(4)The routine return figure, in relation to a trade of a company for an accounting period, is 10% of the aggregate of any routine deductions which—

(a)have been made by the company in calculating the profits of the trade for the accounting period, and

(b)have been allocated to the relevant IP income stream under Step 2.

In this subsection “routine deductions” is to be read in accordance with [F7sections 357BJA and 357BJB].

(5)Subsections (2) and (3) of section 357CI have effect for the purposes of subsection (4) of this section as they have effect for the purposes of that section.

(6)For the purposes of determining the marketing assets return figure in Step 6, section 357CP (actual marketing royalty) has effect as if the reference to X% of the aggregate of any sums falling within subsection (1) of that section were a reference to the aggregate of any such sums which have been allocated to the relevant IP income stream under Step 2.]

Textual Amendments

F2Words in s. 357DA(1) substituted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 13(2)(a)(i)

F3Words in s. 357DA(1) substituted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 13(2)(a)(ii)

F4Words in s. 357DA(1) inserted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 13(2)(b)

F5Words in s. 357DA(1) substituted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 13(2)(c)

F6Words in s. 357DA(1) inserted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 13(2)(d)

F7Words in s. 357DA(4) substituted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 13(3)