Patent Box consultation reassures UK businesses
23 October 2015
A government consultation opened on 22 October on the Patent Box Scheme and will run until December 4 2015. The aim is to ensure that the UK’s tax regimes comply with the Organisation for Economic Cooperation and Development’s (OECD) recommendations.
According to patent attorney, Michael Jaeger:
“The launch of the consultation is welcome news as it will allow innovative UK companies to plan for their future with more certainty.
“It was important for UK businesses that the government’s position on the Patent Box Scheme was clarified. There should no more doubt for companies who undertake their R&D activity in the UK, regarding the levels of tax relief on patented technologies that they can benefit from.”
The consultation document can be read here.
This publication is a general summary of the law. It should not replace legal advice tailored to your specific circumstances.
© Withers & Rogers LLP, October 2015