Taxation of Intellectual Property

This specialist title analyses the approach of the UK tax regime towards intellectual property assets. Following the life-cycle of intellectual property from creation to disposal, the commentary highlights the tax considerations and planning issues for individuals, non-corporate entities and companies. A separate chapter deals with international issues including UK tax residence, transfer pricing and controlled foreign companies.

Two new chapters have been added to this edition, one dealing with crypto-assets, and the other providing guidance on dealing with disputes, enquiries and appeals.

A large amount of new material is added to reflect changes to the law and practice in this area since the last edition was published in 2016. These include:

- changes to the corporate intangible asset regime
- expansion of guidance on the patent box to reflect application of new rules from July 2021
- changes to the R&D tax relief regime
- updated to reflect the post-Brexit world, including international protection, recognition and enforcement of UK and non-UK IP; and the new VAT regime.
- new commentary on ’hybrid’ IP: domain names and protection via goodwill/passing off
- update to the international tax planning to reflect recent tax residence decisions such as Development Securities Plc v HMRC
- New case law:
- Hull City AFC (Tigers) Ltd v HMRC (image rights)
- Thaler v Comptroller General of Patent Trade Marks and Designs (confidentiality - no property in information)
- Ingenious (trading v investment
- Vaccine Research Limited (trading v investment)

The commentary also features a number of new examples and case studies to help illustrate the guidance given.

Julian Hickey is a barrister with Old Square Tax Chambers. Julian advises on all aspects of tax appeals (First-tier Tribunal, Upper Tribunal, Court of?Appeal) and judicial review (High Court); and also acts on tax related criminal investigations (defence), matters arising from professional negligence (claims and defence). In a regulatory context, he takes appeals before the Disciplinary Tribunal (CIOT/ATT/ICAEW/CLC).
He also acts in commercial and chancery proceedings with tax aspects (such as trusts, partnerships, insolvency and professional negligence disputes).

Zeeshan Khilji is a Senior Manager and Head of ETC Tax - Midlands. He has a particular specialism in advising owner managed businesses and their stakeholders at all stages of the business life cycle, and regularly advises on matters including corporate transactions, tax efficient business structuring, employee share incentives, R&D tax relief, inheritance tax and wealth protection strategies.