Intangible assets meaning

This checklist outlines the points to consider when a company plans to grant a pledge. It assumes a company incorporated in England or Wales is granting a pledge to a lender located in England or Wales. In this checklist: the company giving the pledge is the ‘pledgor’ the party in whose favour the pledge is given is the ‘pledgee’ the document setting out the pledge is the ‘security document’ Preliminary questions before taking security by way of a pledge Is a pledge the appropriate method of taking security? Is the asset of a type that can be pledged? Assets capable of being pledged include: goods (that is, tangible, moveable items such as precious metals or other commodities) documents of title to goods or intangible assets where title can pass by delivery of a document (for example, bills of lading and sea waybills, or bearer securities—the latter now rare in practice), so...

Ripe Ltd v HMRC [2025] UKFTT 1606 (TC) Mr and Mrs Glazer had been partners at an accountancy practice (GCA). They left GCA in May 2007 intending to establish a new firm with a third individual, Mr Dewani. To operate the new venture, the Glazers set up a limited liability partnership (LLP). Later in 2007, Mr Glazer acquired from GCA a licence to a client list and associated data (the asset). Instead of placing the asset within the LLP, the Glazers incorporated the taxpayer company; Mr Glazer then sold the asset to that company, which subsequently licensed it to the LLP. This structure was said to be required to ring-fence the respective client portfolios of the Glazers and Mr Dewani in case the merger failed. No formal licence agreement existed between the LLP and the company. The company received a licence fee and, later on, a share of the LLP’s profits. It recorded the asset as goodwill, amortised straight-line over ten years, and claimed corporation tax deductions for the...

JSC DTEK Krymenergo v The Russian Federation No. 23-3330 United States District Court for the District of Columbia Crimean investment JSC DTEK Krymenergo, part of the DTEK Energy Group of Ukraine, operated the electricity network in Crimea and held a range of local assets. These comprised: Valuable equipment and moveable property Intangible rights, including licences and contractual entitlements Cash holdings and securities Although Russia annexed Crimea in 2014, Krymenergo retained ownership until 21 January 2015, when Russia reassigned the property to Crimea and took possession of the company’s office premises. In February 2018, Krymenergo initiated arbitration for alleged breaches of the Russia–Ukraine bilateral investment treaty (BIT) before a PCA tribunal chaired by Professor Juan Fernández-Armesto, with J. William Rowley KC appointed by Krymenergo and Professor Vladimir Pavić appointed by Russia. On 1 November 2023, the tribunal unanimously awarded Krymenergo US$207,800,000 in damages, US$9,401,644.76 in lawyers’ fees, and US$1,362,422.88 in administrative costs, together with interest...

As the sector anticipates the coming year, a cluster of nascent technology arbitration themes is taking shape, spanning digital assets and smart-contract arbitration, proceedings in the metaverse, and role of artificial intelligence. Digital assets are by nature intangible and frequently transnational, since transaction counterparties can be unknown or untraceable within particular jurisdictions. Public venues for their trading, such as cryptocurrency or non-fungible exchanges, often provide scant or no terms and conditions. Overall, determining which fora possess jurisdiction to hear a digital-asset dispute, and which conflict-of-laws principles and substantive legal standards govern, can be challenging in practice for parties involved. Growing debate and attention within the legal community centres on arbitration tied to digital assets, encompassing cryptocurrencies like bitcoin, non-fungible tokens, artificial intelligence, technology and innovation, and the ways they seek to reduce the risks that accompany embracing novel technology across emerging sectors...

Before disposing of a business or trade When planning a disposal, a corporate seller must choose the most suitable deal structure. Commercial drivers should lead, yet securing a tax-efficient outcome will inevitably be a key concern. The initial choice is whether to transfer: the business and its underlying assets (a business sale), or the shares in a subsidiary that holds the business and assets (a share sale) Broadly, sellers tend to prefer a share sale: it offers a straightforward exit and, where the substantial shareholdings exemption (SSE) applies, any gain is exempt from tax. An asset deal is more likely to crystallise tax charges and leaves any pre-completion tax liabilities with the seller. This Practice Note does not address individual sellers or business asset disposal relief (BADR). For more on BADR, see Practice Note: CGT—business asset disposal relief (formerly entrepreneurs' relief)...

FORTHCOMING CHANGE relating to the modernisation of stamp taxes on shares framework: In 2027, stamp duty and SDRT are set to give way to a unified, self-assessed levy on securities—the securities transfer charge (STC)—to be paid and reported through a new digital portal. In broad terms, the STC’s design will align with the proposals for that tax set out in the 2023 consultation. Finance Bill 2026 (FB 2026) creates a power, commencing on Royal Assent, for secondary legislation that will enable taxpayers to pilot the digital service by self-assessing their stamp taxes on securities obligations and submitting transactions electronically via the service. This will allow reporting and payment to be handled online as part of the modernisation of stamp taxes on shares. For detailed coverage of the modernisation of stamp taxes on securities, see: News Analyses: Budget 2025—Tax analysis—Stamp and transfer taxes Tax update spring 2025—Stamp taxes on shares modernisation Tax update spring 2025—Tax analysis—Stamp and transfer taxes TAMD 2023—Stamp taxes on...

Understanding the IP portfolio Effective stewardship of an IP portfolio is vital to protect and enhance the worth of a business’s intangible assets. A well-structured portfolio enables right holders to pinpoint and safeguard core assets, advance commercial aims, and limit legal and financial risk. This Practice Note offers practical guidance for UK right holders and their advisers on running an IP portfolio efficiently. It spans legal compliance (keeping rights valid, current and accurately recorded) and strategic management (aligning IP protection with business goals). What is an IP portfolio? An IP portfolio is the collective set of registered and unregistered IP rights an organisation owns, holds under licence or otherwise controls. It functions as both a legal architecture and a commercial asset base that can generate income, attract investment and deliver competitive advantage. Portfolio management involves systematically recording, protecting, monitoring and exploiting these rights to ensure they continue to create strategic value. Types of rights commonly included Patents: inventions, processes, chemical compositions. Protection method:...

I leave, free of tax, to [ insert name of donee ] of [ insert address of donee ] all my moveable property, tangible and intangible, [ save for any property that consists of money or security for money and is, at my death, used solely or mainly for business purposes and is, at my death, held solely as an investment ] ....

Introduction: This questionnaire concerns the intellectual property (IP) audit overseen by [ contact name ] in [ identify department ]. IP covers intangible business assets, described further below, including: copyright works software confidential information databases trade marks (brands and logos) domain names patents inventions designs Reasons for the audit: The purpose of this audit is to [ review our business's IP and the measures taken to protect it. ] This review is required for [ risk management, legal compliance, accounting and tax planning ] purposes. Companies and territories covered by the audit: The audit applies to [ insert company name ] [ and [ identify other group companies covered by the audit ] ] in [ the UK ] [ and [ identify other jurisdictions within the scope of the audit ] ]. Your role: Please set out which IP is used by your [ department OR business ] and...

[ Letterhead ] [ Addressed to HMRC Officer ] [ Date ] We jointly make an election under section 792 of the Corporation Tax Act 2009 (CTA 2009) that [ the whole OR [ insert a specific amount, a percentage or a fraction ] ] of the chargeable realisation gain arising on the deemed realisation and reacquisition of the intangible assets is to be regarded as attributable to [ full company name ] (Company B) rather than [ full company name ] (Company A)...