Patent Box Consultation

A consultation has been launched on the proposed “patent box”, under which companies may opt to pay corporation tax at 10% on profits arising after 1 April 2013 from patents and other limited forms of intellectual property comparable to patents, such as certain plant variety rights. Businesses will welcome features such as the inclusion of patents developed in partnership, eligibility of patent income arising up to four years before the date of the patent’s grant, and the absence of claw-back of benefits if a patent is lost.

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