Temple Tax Chambers

This Practice Note examines the purpose of intellectual property (IP) valuation and introduces two methods of valuation (cost-based method and economic-based method). It then explains why and how IP is valued. In general, the principal aim of the valuation exercise will be to establish the market value of the IP. This note explains the different approaches used, being a comparison approach, an income approach and a cost approach. Each broad approach encompasses various valuation methods.

This Practice Note considers the tax treatment where a company’s intangible fixed assets are realised. A company’s receipts from exploiting assets falling within the intangible fixed assets regime are charged to corporation tax as income. A corporation tax charge may also arise on a realisation or part-realisation of an intangible asset. Produced in partnership with Anne Fairpo, barrister.

This Practice Note considers the meaning of an intangible fixed asset for corporation tax purposes. An intangible fixed asset has the same meaning for tax purposes as for accounting purposes and specifically includes internally generated assets. The definition covers goodwill and specific items of intellectual property, including patents, trade marks, registered designs, copyrights and design rights. This Practice Note was produced in partnership with Anne Fairpo, barrister.

This Practice Note looks at the definition of a group of companies for the purposes of the intangible fixed assets regime, which in practice follows the definition for capital gains tax purposes. A number of reliefs in respect of intangible fixed assets depend on membership of a group. This Practice Note was produced in partnership with Anne Fairpo, barrister.

This Practice Note outlines the UK rules on withholding tax on royalties or other payments in respect of intellectual property (IP), including the changes introduced by the Finance Act 2016. This Practice Note was produced in partnership with Anne Fairpo, barrister.