Page can be viewed in other languages:
English
Home Home Contact Us Contact Us Incorporation FAQ FAQ Incorporation News News

  • Office
  • Address
  • Contact
RELATED SERVICES
BANKING SERVICES
WE ACCEPT
 
 
Acceptance Mark
Secured by SSL

Member of the Federation of Small Businesses
E-mail us info@ukincorp.co.uk Request a call-back Call Us (UK): 44 (0) 207.935.5171 / 0330.808.0089

This is our most popular package with UK residents, and includes: -

The registration of your company from scratch using your own registered office address, and appoint your own candidates to the roles of director, secretary (if needed), and shareholder;

The standard capital on formation is £1.00, this is divided into 1.00 ordinary share valued at £1.00 (a minimum of one share must be issued);

The formation of a limited company usually takes as little as four to six hours from the time that your application and payment are received by Coddan;

The government fee for incorporation is included in the price of this package;

The following documents, which need to be printed and signed, will be emailed to you upon formation of your company: -

A certificate of incorporation (requires PDF file reader);

The memorandum & articles of association (requires MS-Word file reader);

The first meeting of the board of directors (requires MS-Word file reader);

Share certificates and a company register (requires MS-Word file reader).

E-Quick Package
£ 32.00No Annual Charges
Click here to see all packages
(click here for other packages)
Organization Structures Business, Incorporate Your Business Online, Incorporation Services at Affordable Prices, Learn About Incorporating and How to IncorporateSetting up a Business in United Kingdom, Incorporatin Business, Forming an LLC, Incorporate online in Delaware, Nevada, London, Florida, New YorkCompany UK Formation, Online UK Company Formation Agents, Plus a Wide Range of Ready-Made Companies Available and Vintage CompaniesWhat are the Advantages of Incorporation? You Can Now Form Your UK Limited Company Online Using Our Company Registration AgentHow Do I Get Started With the Registration Process? Company Formation & Registration of Offshore Companies Incorporation ServiceUK Limited Company Formation and Offshore Companies Incorporation Service, We Provide Online New Company Formations and Offshore Readymade CorporationSetting up a Business in United Kingdom, Cheap IBC Incorporation Offshore Anonymous Banking Internet Offshore Bank AccountUK Company Formation, Online Company Registration Agent Offering Same-Day Company Formation, Business BankingServices Include Companies Formation and Administration, Trademark, Intellectual Property, Company Search ServicesAn On-Line Resource to Setting-Up a Private Limited Company Without Hiring a Solicitor or Formation AgenStarting a Business Information, Advice and Information for Starting a New Business in the UK Including UK Business Start-UpHelp in Starting Up a Business Up-to-Date Advice and Strategies, Start Your Own Business and Gain Your Independence!Incorporate a Business in Any State, London, Glasgow, Form an LLC, Conduct a Trademark Search OnlineSmall Business Resources for Starting a Small Business, Small Business Marketing
Income Tax (Trading and Other Income) Act 2005
2005 Chapter 5 - continued
PART 2, TRADING INCOME - continued

back to previous text
 
 CHAPTER 14
 DISPOSAL AND ACQUISITION OF KNOW-HOW
192    Meaning of "know-how" etc.
 
     (1) In this Chapter "know-how" means any industrial information or techniques likely to assist in-
 
 
    (a) manufacturing or processing goods or materials,
 
    (b) working a source of mineral deposits (including searching for, discovering or testing mineral deposits or obtaining access to them), or
 
    (c) carrying out any agricultural, forestry or fishing operations.
     (2) For this purpose-
 
 
    "mineral deposits" includes any natural deposits capable of being lifted or extracted from the earth and for this purpose geothermal energy is treated as a natural deposit, and
 
    "source of mineral deposits" includes a mine, an oil well and a source of geothermal energy.
     (3) For the purposes of this Chapter any consideration received for giving, or wholly or partly fulfilling, an undertaking which-
 
 
    (a) is given in connection with a disposal of know-how, and
 
    (b) restricts, or is designed to restrict, any person's activities in any way,
 is treated as consideration received for the disposal of the know-how.
 
     (4) It does not matter whether or not the undertaking is legally enforceable.
 
     (5) For the purposes of this Chapter references to a sale of know-how include an exchange of know-how and any provision of this Chapter referring to a sale has effect with the necessary modifications.
 
     (6) Those modifications include, in particular, reading references to the proceeds of sale and to the price as including the consideration for the exchange.
 
193    Disposal of know-how if trade continues to be carried on
 
     (1) This section applies if-
 
 
    (a) a person carrying on a trade receives consideration for the disposal of know-how which has been used in the trade,
 
    (b) the person continues to carry on the trade after the disposal, and
 
    (c) neither section 194 (disposal of know-how as part of disposal of all or part of a trade) nor section 195 (seller controlled by buyer etc.) applies.
     (2) The amount or value of the consideration is treated for all purposes as a trading receipt, except so far as it is brought into account under section 462 of CAA 2001 (disposal values).
 
     (3) If the know-how is sold together with other property, the net proceeds of the sale of the know-how are treated as being so much of the net proceeds of the sale of all the property as, on a just and reasonable apportionment, is attributable to the know-how.
 
     (4) For this purpose all property sold as a result of one bargain is treated as sold together even though-
 
 
    (a) separate prices are, or purport to be, agreed for separate items of that property, or
 
    (b) there are, or purport to be, separate sales of separate items of that property.
     (5) Any question about the way in which a sum is to be apportioned under this section must be determined in accordance with section 563(2) to (6) of CAA 2001 (procedure for determining certain questions affecting two or more persons) if it materially affects two or more taxpayers.
 
     (6) For this purpose a question materially affects two or more taxpayers if at the time when the question falls to be determined it appears that the determination is material to the liability to tax (for whatever period) of two or more persons.
 
194    Disposal of know-how as part of disposal of all or part of a trade
 
     (1) This section applies if -
 
 
    (a) a person carrying on a trade receives consideration for the disposal of know-how which has been used in the trade, and
 
    (b) the know-how is disposed of as part of the disposal of all or part of the trade.
     (2) If the person disposing of the know-how is within the charge to income tax, the consideration is treated for income tax purposes as a capital receipt for goodwill.
 
     (3) If the person acquiring the know-how-
 
 
    (a) is within the charge to income tax, and
 
    (b) provided the consideration,
 the consideration is treated for income tax purposes as a capital payment for goodwill.
 
     (4) But the consideration is not treated for income tax purposes as a capital payment for goodwill if, before the acquisition, the trade was carried on wholly outside the United Kingdom.
 
     (5) If the person disposing of the know-how is within the charge to income tax-
 
 
    (a) that person, and
 
    (b) the person acquiring the know-how (whether or not within the charge to income tax),
 may jointly elect for this section not to apply (but see section 195).
 
     (6) The election must be made within two years of the disposal.
 
     (7) If-
 
 
    (a) an election is made under subsection (3) of section 531 of ICTA (corresponding corporation tax provision), and
 
    (b) the person making the acquisition mentioned in that subsection is within the charge to income tax,
 the persons making the election under that subsection are treated as also making an election under this section (even though the person disposing of the know-how is not within the charge to income tax).
 
195    Seller controlled by buyer etc.
 
     (1) This section applies if a disposal of know-how is by way of sale and-
 
 
    (a) the seller is a body of persons over which the buyer has control,
 
    (b) the buyer is a body of persons over which the seller has control, or
 
    (c) both the seller and the buyer are bodies of persons and another person has control over both of them.
     (2) In such a case-
 
 
    (a) section 193 does not apply, and
 
    (b) no election may be made under section 194.
     (3) For the purposes of this section "body of persons" includes a firm.
 
 continue
 
 previous sectioncontents
 
 Other UK Acts | Home | Scotland Legislation | Wales Legislation | Company Formation Online | Company Formations in Republic of Ireland | Company Registration in Northern Ireland | Incorporate in California, Nevada, Florida and New York | Incorporate Offshore

© Crown copyright 2005
Prepared 29 March 2005

Income Tax (Trading and Other Income) Act 2005 is reproduced under the terms of Crown Copyright Policy Guidance issued by HMSO.
Publishing Rights: Coddan CPM Core Licence (HMSO) number is C02W0007897 issued on 25 November 2005 by HMSO Licensing Division (Core Licence.pdf Licence to reproduce public sector information).
Copyright © 1993-2012. All rights reserved. The logo and the Coddan company brand are registered trademarks of Coddan CPM Ltd. Coddan CPM Ltd is a private limited company registered in England, whose registered number is 05370296, and whose registered office address is 124 Baker street, London W1U 6TY, VAT registered number is 864 142 527. Coddan CPM Ltd is committed to respecting the data which we hold on you. Your details are processed and kept securely in accordance with the Data Protection Act 1998, DTA registration number is PZ9265799. The content of this site is protected under applicable copyright and trademark laws. Personal use of material is permitted for research and/or information purposes only.

Limited company formation and small business start-up advice - we are offering companies registrations in England, Wales, Scotland, Northern Ireland, Republic of Ireland, USA and offshore jurisdictions. Our simple and cost-effective business starting-up service has various packages available to suit all needs. Expert advice and cost efficient business registration services to assist companies with their statutory obligations, including business administration, bookkeeping, accounting and annual accounting and annual return preparation. We can also help you to introduce and arrange a business bank account in the United Kingdom, Republic of Ireland, Cyprus, Gibraltar and in many other offshore countries.

All content within this site, including, but not limited to text, software, graphics, logos, icons and images are the property of the Coddan CPM Ltd. Except as provided herein, no portion of the materials on these pages may be reprinted or republished in any form without the express written permission of Coddan CPM Ltd. Permission is granted to print copies of informational articles for your own use and review, provided that source attributions and copyright notices are maintained. All of the information contained on this web site is not meant to be advice, nor should it be followed. The information on this site pertains to UK law only and is offered as a public service. It is not intended to give legal advice about a specific legal problem, nor does it create an attorney-client relationship. Due to the importance of the individual facts of every case, the generalizations we make may not necessarily be applicable to any particular case. Changes in the law could at any time make parts of this web site obsolete. Coddan does not represent nor warrant the accuracy of any of the information contained herein, nor should it be relied upon.

Due to the introduction of the Anti Money Laundering Regulations 2007 it is now a legal requirement that all trusts and company service providers are MLR registered. Coddan CPM Limited has been granted an MLR Registration Number 12298927. This means that we have passed the fit and proper test and successfully applied for and received confirmation from HM Customs and Excise. Please be aware that any formation agent operating without being MLR registered is not complying with the Law. We would strongly advise you to ask for an MLR number prior to processing a formation through any agent.

In the event of Companies House rejecting an application or submission you will have three days to re-submit the application with appropriate corrections at no extra charge. We reserve the right to cancel the contract between us if one or more of the goods or services that you ordered were listed at an incorrect price due to a typographical error or an error in the pricing information received by us from our supplier. If we do cancel your order for this reason, we will notify you by email and will credit your account with any sum deducted by us from your credit card as soon as possible but in any event within 30 days of your order. We will not be obliged to offer any additional compensation for disappointment suffered. Products are delivered using Royal Mail recorded delivery post, or e-mail (as appropriate), unless otherwise stated. Where you request an alternative method of delivery, you must meet those costs. Services are provided using reasonable skill and care. Products and services will be provided in accordance with the timescales set out in the Consumer Protection (Distance Selling) Regulations 2000 unless otherwise agreed with you. Website Last Updated: 5/21/2012