Countdown to the introduction of the new patent box regime
From 1 April 2013, UK companies will be able to elect into a new regime that applies a lower rate of corporation tax to profits from qualifying intellectual property rights. The relief will be phased in, culminating on 1 April 2017 in an effective corporation tax rate of ten per cent on worldwide income attributable to intellectual property within the “patent box”. Companies wishing to take advantage of the new regime should consider what they can do to maximise the benefits of the new rules, including identifying all their qualifying IP, and any sales relating to it, and making sure these assets are held in the most tax efficient way.
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