Patent Tax – Pre-Budget Report

It has been reported that the Government is proposing to slash corporation tax on income made from Patent exploitation.

Currently the rate of tax stands at 28%. This however is likely to be reduced to 10% in an attempt to encourage innovation. It will also see the UK put on a level playing field with other countries whose tax is lower than 28%.

It is however believed that the decease will not be enforced until 2013 and may be enacted through the Finance Bill 2011.

It is also believed that the decrease will only apply to patents granted after the legislation comes in to play.

share this Article

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email

Recent Articles

Overview of IP rights

The pandemic has caused many businesses to invest in selling their goods or services online. This has meant that many businesses have had to invest

Burberry granted injunction against Baneberry

Multi billion-dollar luxury fashion brand Burberry has been granted a preliminary injunction against Chinese copycat brand Baneberry/ The alleged infringers were discovered when Xinboli Trading