The Patent Box will allow companies to apply a 10% corporation tax rate to profits attributed to patents.
The Patent Box will encourage companies to locate the high-value jobs and activity associated with the development, manufacture and exploitation of patents in the UK. It will also enhance the competitiveness of the UK tax system for high-tech companies that obtain profits from patents.
In November 2010 the Government published a wider Corporate Tax reform consultation which included a wide-ranging review of the taxation of intellectual property.
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