My client had developed a commercial software application. The application was not patented. Prior to marketing and selling the product he transferred (sold)all rights of ownership to his private company for a price based on what we thought it was valued at at the time. It is now generating modest revenues.
My question is should this be treated as a sale of an intangible asset under the Capital Gains Tax regime for individuals or as earned income.?
thanks
NEC
15th Sep 2005
0
GAIN ON DISPOSAL OF INTANGIBLE ASSET
GAIN ON DISPOSAL OF INTANGIBLE ASSET