Yn ddilys o 19/07/2011
[F1Intellectual property businessU.K.
Textual Amendments
F1Sch. 25 Pts. 2A, 2B (paras. 12B-12N) inserted (with effect in accordance with Sch. 12 para. 14(2) of the amending Act) by Finance Act 2011 (c. 11), Sch. 12 para. 3
12J(1)The requirement of this paragraph is that C's main business, throughout the accounting period, consists of the exploitation of intellectual property which does not have a relevant UK connection.U.K.
(2)For the purposes of sub-paragraph (1), if any part of C's main business consists of the exploitation of intellectual property which has a relevant UK connection, that part is to be ignored if it is an insignificant part of C's main business.
(3)Intellectual property has a relevant UK connection if—
(a)at any time during the accounting period or the 6 years immediately preceding that period, it has been held by a person resident in the United Kingdom, or
(b)activities relating to the creation, maintenance or enhancement of the intellectual property (other than activities of an incidental or insignificant nature) have been carried on by a person who for some or all of the period—
(i)beginning when the activities were first carried on by the person, and
(ii)ending at the end of the accounting period,
was related to C and within the charge to United Kingdom tax.]