Snow is falling, lights are twinkling. The computer decorations are up again.
- The proposals have been pretty much reworked in some detail into the draft legislation
- The reduction in the presumed routine profit from 15% of specific expenses to 10% of general overheads means this is less mad than it was, although it’s still pretty silly for patent licensing businesses such as biotechs
- The separation out of the active management requirement is welcome, as it means biotechs etc that licence out their R&D results can still qualify
- A bonus for small companies is that the relief calculation uses the main CT rate so they get a bit more relief than they would if the small co’s rate was used in the calculation
- The doubling of the de minimis to £1m before complex paperwork has to be submitted is useful
- BUT: it’s still unlikely to appeal to anyone much other than the multinational pharmaceutical companies, despite the changes. And still does absolutely nothing for any other substantive form of IP.
* well, the least it seems on first reading that one might want to know …