»Ê¹ÚÌåÓýapp

Researchers� shares in a spin-out: treatment from 2 December 2004

»Ê¹ÚÌåÓýapp new legislation in Chapter 4A, Part 7 of ITEPA prevents an Income Tax and NICs charge arising on researchers:

• on an increase in the value of the shares in the spin-out company that is caused by the transfer of designated intellectual property (IP) from the Research Institution and
• where the researchers acquire shares after any IP transfer, the value of the IP will not be reflected in considering whether they have acquired the shares at undervalue.

»Ê¹ÚÌåÓýapp new rules apply from 2 December 2004. If either the acquisition of shares or the IP transfer agreement, or both, were made on or after that date the new relief will apply.