More news on the “patent box”

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As mentioned already, Alistair Darling announced the 10% rate of corporation tax on income from the exploitation of patents.  What he did not say (but which is in the press releases) is that it is currently proposed that this reduced rate will not apply to income from patents until April 2013.   The Government have said they will consult with business with the aim of introducing legislation in the Finance Bill 2011, with the new regime applying only to patents granted after the legislation is passed

The Government has in place various initiatives to speed up the granting of patents, but businesses may now have a good reason to slow the process down!

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One Response to “More news on the “patent box””

  1. Kevin Cordina (Olswang) Says:

    The restriction of this reduction to only patents granted after the legislation is passed is going to rather limit its scope in the short-medium term. Companies will only see the benefit as they begin to strike licences and deals based on patents granted after that date – any agreements currently existing are almost certainly on already-granted patents and so won’t benefit from the reduction.

    Instructions to your friendly patent attorney to put the brakes on your pending applications for a few months would be advisable.

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