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Eversheds comment: No immediate changes to Patent Box likely despite proactive UK government approach

  • United Kingdom

    03-12-2014

    Commenting on potential new changes to the UK patent box in today's Autumn Statement, Ben Jones partner and tax expert at law firm Eversheds, says:

    “The UK Government has realised that its much heralded Patent Box now sits very uneasily with the broad international move to restrict harmful tax practices and tax competition. Sensibly it has gone on the front foot by supporting measures designed to restrict the operation of broad preferential IP regimes such as the Patent Box but, importantly, pressing for these changes to be adopted by all G20 members to avoid the UK being prejudiced by preferential regimes in other countries.

    "No immediate changes to the UK Patent Box are expected as part of the Autumn Statement. When change does come, the intention is for the Patent Box to remain but in a form focusing on research and development in the UK. Since this was the original and widely publicised intent of the Patent Box, it is perhaps not surprising that the UK Government are taking a proactive approach on this issue.”

    Ben Jones, Partner

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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