Section 101 [Intellectual property]
|
Amendments
Section 101 and heading substituted by Finance Act 2004 section 74 from 1 April 2004, the date appointed by the Minister for Finance under Finance Act 2004 (Section 74)(Commencement) Order 2004 (SI 140/2004).
(1) In this section-
"intellectual property" means-
(a) any patent, trademark, registered design, design right, invention[, domain name, trade name, trade dress, brand, brand name, service mark or publishing title]1,
(b) any copyright or related right within the meaning of the Copyright and Related Rights Act 2000,
(c) any supplementary protection certificate provided for under Council Regulation (EEC) No. 1768/92 of 18 June 1992 (OJ No. L 198, 8.8.1996, p. 2),
(d) any supplementary protection certificate provided for under Regulation (EC) No. 1610/96 of the European Parliament and of the Council of 23 July 1996 OJ No. L 182, 2.7.1992, p. 1),
(e) any plant breeders' rights within the meaning of section 4 of the Plant Varieties (Proprietary Rights) Act 1980, as amended by the Plant Varieties (Proprietary Rights) (Amendment) Act 1998,
[(ea) any authorisation without which it would not be permissible for—
(i) a medicine, or
(ii) a product of any design, formula, process or invention,
to be sold for any purpose for which it was intended,
(eb) any rights derived from research undertaken, prior to any authorisation referred to in paragraph (ea), into the effects of—
(i) a medicine, or
(ii) a product of any design, formula, process or invention,]2
(f) any application for the grant or registration of anything within paragraph (a), (b), (c), (d)[, (e), (ea) or (eb)]3,
(g) any licence or other right in respect of anything within paragraph (a), (b), (c), (d), [(e), (ea), (eb)]4 or (f),
(h) any rights granted under the law of any country, territory, state or area, other than the State, or under any international treaty, convention or agreement to which the State is a party, that correspond to or are similar to those within paragraph (a), (b), (c), (d), [(e), (ea), (eb), (f) or (g), or]5
(i) goodwill to the extent that it is directly attributable to anything within paragraph (a), (b), (c), (d), [(e), (ea), (eb)]6, (f), (g) or (h).
Amendments
1 Substituted by Finance Act 2009 section 25(1)(a) as respects instruments executed after 7 May 2009.
2 Paras (ea)-(eb) inserted by Finance Act 2009 section 25(1)(b) as respects instruments executed after 7 May 2009.
3 Substituted by Finance Act 2009 section 25(1)(c) as respects instruments executed after 7 May 2009.
4 Substituted by Finance Act 2009 section 25(1)(d) as respects instruments executed after 7 May 2009.
5 Substituted by Finance Act 2009 section 25(1)(e) as respects instruments executed after 7 May 2009.
6 Substituted by Finance Act 2009 section 25(1)(f) as respects instruments executed after 7 May 2009.
(2) Subject to subsection (3), stamp duty shall not be chargeable under or by reference to any heading in Schedule 1 on an instrument for the sale, transfer or other disposition of intellectual property.
(3) Where stamp duty is chargeable on an instrument under or by reference to any heading in Schedule 1 and part of the property concerned consists of intellectual property-
(a) the consideration in respect of which stamp duty would otherwise be chargeable shall be apportioned, on such basis as is just and reasonable, as between the part of the property which consists of intellectual property and the part which does not, and
(b) the instrument shall be chargeable only in respect of the consideration attributable to such of the property as is not intellectual property.
If only part of the property referred to in an instrument consists of intellectual property, how is the consideration apportioned?
(3) If part of the property referred to in an instrument subject to stamp duty consists of intellectual property, the consideration is to be apportioned on a just and reasonable basis, so that no stamp duty is charged on the part that relates to inte...
(4) The amount or value of the consideration attributable to intellectual property, shall be disregarded for the purposes of the statement provided for in paragraphs 7 to 14A of the heading "CONVEYANCE or TRANSFER on sale of any property other than stocks or marketable securities or a policy of insurance or a policy of life insurance" and any statement referred to in those paragraphs shall be construed accordingly.
(5) Where part of the property referred to in subsection (1) of section 45 consists of intellectual property, that subsection shall have effect as if the words "in such manner as is just and reasonable" were substituted for "in such manner, as the parties think fit".
What happens where there is a single consideration but the property is conveyed in a number of lots?
(5) Section 45(1) deals with the situation where property contracted to be sold to a purchaser for a single consideration is conveyed to the purchaser in separate lots by different instruments....
(6) Where part of the property referred to in subsection (3) of section 45 consists of intellectual property and both or, as the case may be, all the relevant persons are connected with one another, that subsection shall have effect as if the words ", the consideration shall be apportioned in such manner as is just and reasonable, so that a distinct consideration for each separate part or parcel is set forth in the conveyance relating to such separate part or parcel, and such conveyance shall be charged with ad valorem duty in respect of such distinct consideration." were substituted for "for distinct parts of the consideration, then the conveyance of each separate part or parcel shall be charged with ad valorem duty in respect of the distinct part of the consideration specified in the conveyance.".
Where property is conveyed to several "connected" persons in separate lots for a single consideration, how is stamp duty apportioned?
(6) Section 45(3) deals with the situation where property contracted to be bought for a single consideration is conveyed to several "connected" purchasers in separate lots by different instruments. In such a case, stamp duty is chargeable on the part...
(7) For the purposes of subsection (6), a person is a relevant person if that person is a person by or for whom the property is contracted to be purchased and the question of whether persons are connected with one another shall be construed in accordance with section 10 of the Taxes Consolidation Act 1997 and as if the reference to the Capital Gains Tax Acts in the definition of relative in that section was replaced by a reference to the Stamp Duties Consolidation Act 1999.
(8) Where subsection (5) or (6) applies, and the consideration is apportioned in a manner that is not just and reasonable, the conveyance relating to the separate part or parcel of property shall be chargeable with ad valorem duty as if the value of that separate part or parcel of property were substituted for the distinct consideration set forth in that conveyance.
