Patent price

A new “Patent Box” tax regime was introduced which will come into effect on 1st April 2013. The Chancellor’s 2012 Autumn Statement included a measure to abolish income tax for patent royalties. Income tax relief was abolished for payments of patent royalties that were not deductible in computing income from any source. The measure is designed to counter known avoidance arrangements exploiting this relief and to simplify the tax code.

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