Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

ACT definition

What does ACT mean? In corporate and banking practice, ACT usually refers to the Association of Corporate Treasurers, the UK-based professional body for corporate treasury professionals, rather than a statutory “Act”. It is not defined in legislation or case law; the acronym is market terminology used in transaction documents and governance materials. The Association of Corporate Treasurers promotes professional standards in liquidity management, funding, cash and risk management, foreign exchange and derivatives. It publishes guidance and a code of ethics and awards recognised qualifications (including AMCT and FCT). In legal contexts, references to “ACT-qualified” personnel or to ACT good practice may appear in treasury policies,...

UK taxation of cross-border IP exploitation: patent box, withholding taxes and DTTs, profit extraction, CFC/UTPR risks, VAT

Published by a LexisNexis Tax expert

Practice notes

This Practice Note

The UK government has long aimed to make the country one of the world’s most appealing places for innovation and Enterprise. To achieve this, it has introduced a range of tax incentives that support innovative companies and their investors, spanning every stage of a business’s life cycle. These include:

R&D tax reliefs
the patent box
business asset disposal relief (formerly entrepreneurs’ relief)
amortisation deductions for companies acquiring intellectual property
capital allowances for purchases of:
- knowhow
- patents
- plant and machinery
venture capital trusts
enterprise investment scheme
seed enterprise investment scheme

This Practice Note outlines the UK perspective on key tax considerations when deciding how to structure an innovative IP business with international or global ambitions. The comments are high level and assume a blank slate; revising an existing IP Ownership model will need a bespoke plan (particularly for joint ventures or consortia), though the points below will still merit attention. The emphasis is on businesses that exploit IP. Please also see Practice...

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Graham Samuel-Gibbon

Taylor Wessing LLP

Graham is Head of the UK Tax and Incentives team at Taylor Wessing. He is an international tax specialist who advises domestic and multinational clients on a wide range of transactional and advisory tax matters. Graham regularly works with FTSE 100 and Future Global 100 companies.He guides clients through stock and asset/business acquisitions and disposals, cross border tax structuring, UK inbound and outbound investment, joint ventures and reorganisations.He also advises on tax issues relating to the development, ownership and exploitation of intellectual property rights, with a particular focus on the life science and technology sectors....

Claire Hawley

Taylor Wessing LLP

Claire is a Senior Counsel – Knowledge in the Tax & Incentives group. She has specialised in corporate tax law since 2000, advising on the tax aspects of M&A, banking & finance, IP and real estate transactions. Claire is now responsible for all areas of knowledge management, providing technical legal support to her team and other practice areas across the firm. She has a particular focus on delivering thought leadership and keeping both internal and external clients abreast of developments in the ever-changing world of tax law. Claire has over 17 years of experience as a Knowledge Lawyer, prior to which she practised as a transactional and advisory tax lawyer at both UK and US firms....

Michelle Williamson

Taylor Wessing LLP

Michelle is a senior counsel – knowledge in the Tax & Incentives team at Taylor Wessing. Both a solicitor and Chartered Tax Adviser, she has over 20 years' experience in corporate tax law. With responsibility for continual improvement and development, Michelle covers all areas of knowledge management, from providing technical legal support to her team and the wider firm to writing articles, thought leadership pieces and guides for our clients. Michelle has over 13 years of experience as a knowledge lawyer, prior to which she practised as a transactional and advisory tax lawyer....

Web page updated on 22/05/2026

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