I move:—
That where provision is made by the Act giving effect to this Resolution for the granting of allowances, for the purposes of income tax (including sur-tax) and of corporation profits tax, in respect of capital expenditure incurred on the purchase of patent rights, there shall be authorised a charge to income tax (including sur-tax) and, where appropriate, to corporation profits tax, in relation to capital sums received in respect of the sale of patent rights.
This is in regard to getting exemption from income tax on the money paid for patents. I announced that the amount paid on the purchase of a patent would be free from income tax in future but, conversely, we must charge the person who sells the patent. This really deals with the person who sells the patent.
