The Treasury has published the text of a letter sent to the CBI on the progress of the current review of UK taxation of intellectual property.
The letter doesn’t reveal anything particularly new, but sets out in more detail the areas being looked at as a result of the announcement of the review/consultation in the Budget. Of particular note is the fact that they are looking at the patent box incentives elsewhere in Europe, and considering the general rate of corporation tax as well.
One mild note of concern is the insistence on looking at the cost of making changes: there’s no reference to considering the cost to the Treasury of not making changes to the UK’s system of incentives and taxation of intellectual property. The incentives that the letter proudly boasts of are largely aimed at developing intellectual property, not exploiting it.
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