Income and Corporation Taxes Act 1988 (c. 1)

PART IV U.K. PROVISIONS RELATING TO THE SCHEDULE D CHARGE

CHAPTER V U.K. COMPUTATIONAL PROVISIONS

Modifications etc. (not altering text)

C1 See—1979(C) s.122—election to take capital gain or loss into account when asset appropriated to stock in trade.1989 ss.67-74—employee share ownership trusts.Banking Act 1987 (c.22) s.66—contributions to the Deposit Protection Fund.

Deductions U.K.

83 Patent fees etc. and expenses. U.K.

M1 Notwithstanding anything in section 74, in computing the [F1 profits] of a trade [F2 for the purposes of corporation tax] there may be deducted as expenses any fees paid or expenses incurred—

(a) in obtaining for the purposes of the trade the grant of a patent, an extension of the term of a patent, the registration of a design or trade mark, [F3 an extension of the period for which the right in a registered design subsists] or the renewal of registration of a trade mark, or

(b) in connection with a rejected or abandoned application for a patent made for the purposes of the trade.

F4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Words in s. 83 substituted (31.7.1998) by Finance Act 1998 (c. 36), s. 46(3)(a)(b), Sch. 7 para. 1

F2 Words in s. 83 inserted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 56 (with Sch. 2)

F3 Sch.7 para.36(2) Copyright, Designs and Patents Act 1988 (c.48)—in force on 1August 1989. (Commencement order—S.I. 1989 No.816—not reproduced.)Previously

“the extension of the period of copyright in a design”.

F4 Words in s. 83 repealed (31.10.1994) by Trade Marks Act 1994 (c. 26), s. 109(1), Sch. 5; S.I. 1994/2550, art. 2

Modifications etc. (not altering text)

C2 S. 83(a) modified (31.10.1994) by Trade Marks Act 1994 (c. 26), s. 109(1), Sch. 4 para. 1(1)(2); S.I. 1994/2550, art. 2

Marginal Citations

M1 SOURCE-1970 s. 132