Section 357B | Meaning of “qualifying company” F1
From legislation.gov.uk
(1)A company is a qualifying company for an accounting period if—F1
(a)condition A or B is met, andF1
(b)in the case of a company that is a member of a group, condition C is met.F1
(2)Condition A is that, at any time during the accounting period, the company—F1
(a)holds any qualifying IP rights, orF1
(b)holds an exclusive licence in respect of any qualifying IP rights.F1
For the meaning of “exclusive licence”, see section 357BA.
(3)Condition B is that—F1
(a)the company has held a qualifying IP right or an exclusive licence in respect of such a right,F1
(b)the company has received income in respect of an event which occurred in relation to the right or licence, or any part of which so occurred, at a time when—F1
(i)the company was a qualifying company, andF1
(ii)an election under section 357A(1) had effect in relation to it, andF1F2
(c)the income falls to be taxed in the accounting period.F1
(4)A right is a qualifying IP right for the purposes of this Part if—F1
(a)it is a right to which this Part applies (see sections 357BB and 357BBA), andF1F3
(b)the company meets the development condition in relation to the right (see section 357BC).F1
(5)Condition C is that the company meets the active ownership condition for the accounting period (see section 357BE).F1