Consultation outcome

The Patent Box

This consultation has concluded

Download the full outcome

Patent Box: response to consultation

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Detail of outcome

Includes a summary of the responses received and also includes details of changes to the proposals which have been made as a result of the consultation, and seeks further views on some specific policy proposals.

Original consultation

This consultation ran from 10 June 2011 12:00am to
2 September 2011 11:45pm

Summary

Seeking views on introducing a preferential regime for profits arising from patents, known as a Patent Box.

Documents

Consultation document on the Patent Box (PDF 557KB)

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If you use assistive technology and need a version of this document in a more accessible format please email editor@hmtreasury.gsi.gov.uk quoting your address, telephone number along with the title of the publication ("Consultation document on the Patent Box (PDF 557KB)").

Slides from the Patent Box open event 10 January 2012 (PDF 297KB)

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If you use assistive technology and need a version of this document in a more accessible format please email editor@hmtreasury.gsi.gov.uk quoting your address, telephone number along with the title of the publication ("Slides from the Patent Box open event 10 January 2012 (PDF 297KB)").

Consultation description

Background

The government is introducing a preferential regime for profits arising from patents, known as a Patent Box. This will allow companies to apply a 10 per cent 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.

The Patent Box was announced in November 2010 as part of the Corporate Tax Road Map, which included a wide-ranging consultation on the taxation of intellectual property. The Patent Box consultation released in June 2011 built on this initial review and provided a detailed explanation of how the government proposed to implement the Patent Box.

The government has also published draft legislation on the Patent Box, together with draft Explanatory Notes and a Technical Note. Technical consultation on the draft legislation and accompanying documents will close on 10 February 2012. Full details on how to contribute to the consultation are set out in the response to consultation document below.

Further engagement

The government held an open event in HM Treasury on the Patent Box on 10 January 2012. Slides from this event can be found below:

If you are not already on the distribution list and would like to be informed of Patent Box updates then please email: corporatetaxreform@hmtreasury.gsi.gov.uk

Working group

A working group of representatives from businesses was established to complement wider consultation on the Patent Box and to discuss options and proposals in more detail. A list of current members is provided below. Minutes from the working group have also been published.

  • Helen Jones - GlaxoSmithKline
  • Mike Sufrin - retired - formerly Rolls-Royce
  • Gerd Koenigsmann - Eisai
  • Sarah Carter - Syngenta
  • Andy Wood - Shell
  • Martyn Smith - Dyson
  • Michele Nash - Arm
  • Peter Denison-Pender - Fusion IP
  • Colin Dalton - Vectura
  • Valerie Thorn - AND Technology Research Ltd

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