476 Disposal value of patent rightsU.K.
This section has no associated Explanatory Notes
(1)In this Chapter “disposal receipt” means a disposal value that a person is required to bring into account in accordance with—
(a)this section, or
(b)paragraph 11 of Schedule 12 to FA 1997 (finance lease or loan: receipt of major lump sum) or any other enactment.
(2)A person is required to bring a disposal value into account for the chargeable period in which he sells the whole or a part of any patent rights on which he has incurred qualifying expenditure.
(3)Subject to section 477, the disposal value to be brought into account is the net proceeds of the sale, so far as they consist of capital sums.