Patent Box special bulletin
key aspects of second consultation
One of the key themes of Budget 2011 was encouraging innovation, and a critical part of this initiative is the introduction of a UK Patent Box from April 2013. The Patent Box will tax the worldwide profits attributable to patents at 10%, rather than the 24% corporate tax rate that will then be in force. The Treasury has costed the relief at £1bn per year.
On 10 June 2011, the Government published its second consultation document on Patent Box. This special bulletin sets out the key measures found within the document.