Section 924 — Corporation Tax Act 2009: Relief for expenses: patent income

Relief for expenses: patent income 924 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).