(UK) Finance Bill 2016 – Corporate Tax, IP and Partnerships

27 January 2016
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These new rules are designed to plug a gap in the existing provisions that determine when intangibles created before 1 April 2002, are to come within the corporate regime. The headline announcement makes clear that the new rules are aimed at the use of partnership vehicles to bring “old IP” into the new regime earlier than one would otherwise have expected – we shall see how in a moment. However, the draft legislation makes clear that these rules are not restricted to partnership situations.</o:p>