PRT: royalty - royalty -paid
PRT Royalty was abolished with effect from 1 January 2003.
Royalty paid is the amount actually paid in respect of royalties in the chargeable period. Broadly this will reflect the royalty due for the previous period but it may well include prior period payments required as earlier years are finally settled. Whatever period they relate to however the payments are debited in the licence debit or credit computation in the period in which they are made.