Corporation Tax Act 2009

907 Overview of Part U.K.

(1) This Part applies the charge to corporation tax on income to—

(a) profits from disposals of know-how (see Chapter 2), and

(b) profits from sales of patent rights (see Chapter 3).

(2) This Part also provides for relief from corporation tax on patent income (see Chapter 4).

(3) Chapter 5 contains supplementary provision relevant to Chapters 2 to 4.

(4) This Part needs to be read in the light of Part 8 (intangible fixed assets).

(5) See in particular the following provisions of Part 8, which are relevant to the application of that Part—

(a) section 713 (meaning of “intangible fixed asset”),

(b) Chapter 16 (which limits the application of Part 8 to assets which are not pre-FA 2002 assets within the meaning of section 881), and

(c) section 906 (which contains a rule about the priority of Part 8 for corporation tax purposes).