- This topic has 1 reply, 2 voices, and was last updated 3 years ago by .
Viewing 2 posts - 1 through 2 (of 2 total)
Viewing 2 posts - 1 through 2 (of 2 total)
- You must be logged in to reply to this topic.
OpenTuition recommends the new interactive BPP books for June 2024 exams, Get your discount code >>
Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Non-trade patent royalties- example needed
sir as a part of Corporation tax(CT) computation, miscellaneous income is also added to arrive at taxable total profits(TTPs). and my study text states the definition of miscellaneous income as “patent royalties receivable in respect of non-trade related patents would be included here”- now i want to understand this statement, through an example.
I’ll be glad if you could provide me with an answer.
thank you.
A patent that is said in a question to be held by the company as an “investment asset” should be treated in this way and is very unlikely in an exam as it has no impact on the TTP of the company