Point in time view as at 17/07/2012.
There are currently no known outstanding effects for the Capital Allowances Act 2001, Section 476.
(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)[F1section 614BS of ITA 2007] or [F2section 918 of CTA 2010 (cases where expenditure taken into account under Part 2, 5 or 8 of this Act) 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.
Textual Amendments
F1Words in s. 476(1)(b) substituted (1.4.2010) (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 236 (with Sch. 9 paras. 1-9, 22)
F2Words in s. 476(1)(b) inserted (1.4.2010) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 357 (with Sch. 2)
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