Income tax is charged on profits from sales of the whole or part of any patent rights under ITTOIA 2005, s. 587. The profit to be taxed is defined in the legislation (ITTOIA 2005, s. 588) to be the amount of any capital sum comprised in the sale proceeds, less deductible costs. For corporation tax purposes, the corresponding charge is under CTA 2009, s. 912 with the profits taxed defined in s. 913.

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