Taxes Consolidation Act 1997 section 758

Relief for expenses

Section 758 provides for tax relief in respect of fees and expenses incurred in devising a patented invention and in obtaining or extending a patent.

• Traders may deduct patent-related fees and expenses in computing trading profits, overriding the general prohibition in section 81.
• Non-traders receive an allowance equal to the fees or expenses incurred in obtaining, maintaining or extending a patent, given for the chargeable period in which the expenditure arises.
• An individual who actually devised a patented invention may claim an allowance for the net expenses of devising it, given for the year of assessment in which those expenses were incurred.
• Expenses relieved under this section cannot also be claimed under any other provision of the Tax Acts.