Who the UK patent box will benefit
September 12, 2011
Paul Smith and Wendy Nicholls of Grant Thornton UK welcome the new patent box proposals but believe the take-up will be small because of the restriction to patents and the highly complicated calculation of patent box profits.
The UK government has recently published consultation documents on the creation of a patent box. The patent box will apply a 10% corporation tax rate to profits attributable to patents from April 2013. Grant Thornton and its clients have participated in the consultation process and the latest set of submissions closed on 2 September 2011.
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