§ (1) No stamp duty is chargeable on an instrument for the sale, transfer or other disposition of intellectual property.
- (a) the consideration in respect of which duty would otherwise be charged shall be apportioned, on such basis as is just and reasonable, as between the part of the property which consists of intellectual property and the part which does not, and
- (b) the instrument shall be charged only in respect of the consideration attributed to such of the property as is not intellectual property.
§ (3) Where part of the property referred to in section 58(1) of the Stamp Act 1891 consists of intellectual property, that provision shall have effect as if "the parties think fit" read "is just and reasonable".
§ (4) Where—
- (a) part of the property referred to in section 58(2) of the Stamp Act 1891 consists of intellectual property, and
- (b) both or (as the case may be) all the relevant persons are connected with one another,
§ (5) In a case where paragraph (3) or (4) applies and the consideration is apportioned in a manner that is not just and reasonable, the enactments relating to stamp duty shall have effect as if—
- (a) the consideration had been apportioned in a manner that is just and reasonable, and
- (b) the amount of any distinct consideration set forth in any conveyance relating to a separate part or parcel of property were such amount as is found by a just and reasonable apportionment (and not the amount actually set forth).
§ (6) For the purposes of paragraph (4)—
- (a) a person is a relevant person if he is a person by or for whom the property is contracted to be purchased;
- (b) the question whether persons are connected with one another shall be determined in accordance with section 839 of the Income and Corporation Taxes Act 1988.
§ (8) Any statement as mentioned in paragraph 6(1) of that Schedule shall be construed as leaving out of account any matter which is to be so disregarded.
§ (9) Section 12 of the Finance Act 1895 does not require any person who is authorised to purchase any property as mentioned in that section after 27th March 2000 to include any intellectual property in the instrument of conveyance required by that section to be produced to the Commissioners.
§ (10) If the property consists wholly of intellectual property no instrument of conveyance need be produced to the Commissioners under that section.
§ (11) Subject to paragraph (12), the preceding paragraphs of this Resolution apply to instruments executed on or after 28th March 2000.
§ (12) Paragraphs (9) and (10) apply where the Act mentioned in section 12 of the Finance Act 1895, and by virtue of which property is vested or a person is authorised to purchase property, is passed after 27th March 2000.
§ (13) In this Resolution "intellectual property" means—
- (a) any patent, trade mark, registered design, copyright or design right,
- (b) any plant breeders' rights and rights under section 7 of the Plant Varieties Act 1997,
- (c) any licence or other right in respect of anything within paragraph (a) or (b), or
- (d) any rights under the law of a country outside the United Kingdom that correspond or are similar to those within paragraph (a), (b) or (c).