Corporation Tax Act 2009 section 879J

Meaning of qualifying IP asset

Section 879J defines what counts as a "qualifying IP asset" for the purposes of the restrictions on goodwill-related debits where a company has no qualifying intellectual property assets.

• A qualifying IP asset must be an intangible fixed asset that is a patent, registered design, copyright, design right, plant breeders' right, or an equivalent right under foreign law, including licences over such rights
• The asset must not be excluded from Part 8 by Chapter 10 and must not be a pre-Finance Act 2002 asset
• A licence that only permits the use of computer software, without also permitting its manufacture, adaptation or supply, does not count as a qualifying IP asset
• The Treasury has the power to amend the definition of qualifying IP asset by regulations