28th December 2011
The Government is introducing a Patent Box from 1 April 2013, which will apply a reduced 10 per cent rate of corporation tax on profits attributed to patents.
The Government’s aim is that the Patent Box will create a competitive tax environment for companies to develop and exploit patents and other similar intellectual property (IP) in the UK. The Patent Box will provide an additional incentive for companies in the UK to retain and commercialise existing patents and to develop new innovative patented products. This will encourage companies to locate the high-value jobs associated with the development, manufacture and exploitation of patents in the UK and maintain the UK's position as a world leader in patented technologies.
To read more visit http://wwtaxclub.blogspot.com/2011/12/patent-box.html