107(1)Amend section 524 (taxation of receipts from sale of patent rights) as follows.
(2)In subsection (3)—
(a)omit the “and” immediately after paragraph (a), and
(b)omit paragraphs (b) and (c).
(3)For subsection (9) substitute—
“(9)If a company is chargeable to corporation tax under subsection (3) above, nothing in subsections (7) and (8) above shall affect the sum representing income tax which is to be deducted under section 910 of ITA 2007 (payments to non-UK residents) from payments of, or of instalments of, the proceeds of the sale.
(9A)If any sum representing income tax is deducted under section 910 of ITA 2007, any adjustment necessary to give effect to the provisions of subsection (9) above shall be made by way of repayment of tax.”