Section 483 | Meaning of “income from patents”

For the purposes of this Part a person’s “income from patents” means—

(a)royalties or other sums paid in respect of the use of a patent,

(b)balancing charges to which the person is liable under this Part, and

(c)amounts on which tax is payable under section 587, 593 or 594 of ITTOIA 2005 or under section 912 or 918 of CTA 2009 (taxation of receipts from sale of patent rights).^F1F2