Part 9Intellectual property: know-how and patents
Chapter 4Relief from corporation tax on patent income
924Relief for expenses: patent income
(1)
Relief may be claimed under this section for patent application and maintenance expenses.
(2)
In this section “patent application and maintenance expenses” means expenses incurred by a company in connection with—
(a)
the grant or maintenance of a patent,
(b)
the extension of the term of a patent, or
(c)
a rejected or abandoned application for a patent,
but not incurred for the purposes of any trade carried on by the company.
(3)
Relief may not be claimed under this section for patent application and maintenance expenses unless they are expenses which would, if incurred for the purposes of a trade, have been allowable as a deduction in calculating the profits of the trade.
(4)
This section needs to be read with section 926 (contributions to expenditure).