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CB 29: Disposal of minerals
or “Money from selling minerals counts as income, regardless of land ownership”
You could also call this:

“Money from selling patent applications or rights counts as income”

If you sell or get rid of a patent application that has a complete specification, or if you sell or get rid of patent rights, any money you get from this is considered income. This means you have to include this money as part of your earnings when you do your taxes. It doesn’t matter if you’re selling the whole patent or just the rights to use it; the money you receive is still counted as income.

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Next up: CB 31: Disposal of business: transferred employment income obligations

or “Income from transferred employee costs when buying a business”
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Part C Income
Income from business or trade-like activities: Exclusion for investment land

CB 30Disposal of patent applications or patent rights

  1. If a person derives an amount from the disposal of a patent application with a complete specification or from the disposal of patent rights, the amount is income of the person.

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Notes
  • Section CB 30 heading: amended (with effect on 1 April 2015 and applying for the 2015–16 and later income years), on , by section 242(1) of the Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Act 2016 (2016 No 1).
  • Section CB 30: amended (with effect on 1 April 2015 and applying for the 2015–16 and later income years), on , by section 242(1) of the Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Act 2016 (2016 No 1).