The Corporation Tax Act 2010 (Profits Arising from the Exploitation of Patents) Foreign Taxes Designation Regulations 2016
In accordance with section 357BP (meaning of “new qualifying IP right” and “old qualifying IP right) of the Corporation Tax Act 2010 (c. 4) (“CTA 2010”), a right or exclusive licence is a “new qualifying IP right” for the purposes of Part 8A (profits arising from the exploitation of patents) CTA 2010 if the right is assigned or the licence is granted on or after 2 January 2016 and the conditions set-out in subsection (8) of section 357BP are met.