The deadline for responding to the Government's consultation
on the new Patent Box regime expires on Friday 2nd September 2011.
This marks the last opportunity for interested parties to put
forward their views on the detailed principles behind the new
regime.
The Patent Box consultation
The Patent Box regime is intended to make the UK tax system
competitive for innovative high-tech companies and will allow
companies to apply a 10% corporation tax rate to profits attributed
to patents from 2013. The current consultation explains in detail
how the Patent Box is intended to work and will be followed by
draft legislation to be published in autumn 2011. A number of the
proposals from the previous consultation have been revised, for
example rather than restricting the regime to patents first
commercialised after 29th November 2010, the new proposals envisage
that the regime will apply to all patents but the benefits will be
phased in over a five year period.
