Offshore receipts in respect of intangible property

On 24 May 2019, HMRC published draft regulations and guidance in relation to the Offshore Receipts in Respect of Intangible Property ('ORIP') rules which came into effect on 6 April 2019.  Our specialists have prepared this overview the ORIP rules in the light of the proposed regulations and guidance, which are now the subject to consultation until 19 July 2019.

It's vital that taxpayer's consider how these new rules impact their business, as the wording of the legislation is sufficiently broad to apply to non-tax motivated arrangements and to catch amounts arising under almost any licence except outright sales of intangible property. 

For further information, please speak to one of our specialists: