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).