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The owner of copyright enjoys exclusive rights of copying a work (including electronic copying and storage), adaptation, the issuing or renting of copies to the public, public performances or showings, broadcasting or making it available to the public by electronic transmission¹. The owner may assign some or all of those rights for the whole or part of the outstanding term or, alternatively, may license others to carry out some or all of the acts restricted by copyright.

The corporate tax treatment of intangible assets, including copyrights, acquired or created on or after 1 April 2002 is set out in the corporate intangible regime as detailed in Division D1.6. There are also separate corporation tax regimes for film, TV, video games, theatre, orchestral concert and museum and gallery exhibition production companies. See Division D7.12.

Subject to that, receiptsfrom creating and exploiting copyright in the course of a trade, profession or vocation are treated as receipts of the trade etc in the normal way. This may include royalties, consideration for grants or licences of copyright