Finance Act 2016 (c. 24)

SCHEDULES

SCHEDULE 9 U.K. Profits from the exploitation of patents etc: consequential

13 (1) Section 357DA (relevant IP profits) is amended as follows. U.K.

(2) In subsection (1)—

(a) in Step 1—

(i) for “section 357CB” substitute “ section 357BG ”, and

(ii) for “sections 357CC and 357CD” substitute “ sections 357BH to 357BHC ”,

(b) in Step 4, after “routine return figure” insert “ in relation to the trade for the accounting period ”,

(c) in Step 5, for “elected” substitute “ made an election under section 357CL ”, and

(d) in Step 6, after “marketing assets return figure” insert “ in relation to the trade for the accounting period ”.

(3) In subsection (4), in the words after paragraph (b), for “sections 357CJ and 357CK” substitute “ sections 357BJA and 357BJB ”.