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Posted Mon, 07 Oct 2024 11:46:36 GMT by Luke
Hello, I am a musician and write/record music. My income comes from streaming, licensing, and other associated royalties generated from these assets. A company has offered to buy part of my catalogue (master recordings and publishing/writer's share of those compositions). Would I pay CGT on this sale? Or would it be subject to income tax? Many thanks.
Posted Thu, 17 Oct 2024 11:27:00 GMT by HMRC Admin 20 Response
Hi,
Please refer to the guidance at CG68250 - Intellectual Property Rights: copyright and BIM56200 - Films and sound recordings: master versions of sound recordings
for more information.  
It is likely that the proceeds arising from this sale would be liable to income tax, but you should seek professional advice.
Thank you.

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