other
22
Mar 11
UK: Budget tomorrow (March 23rd)
Immediate updates on IP-related Budget thoughts will be posted on twitter – a more detailed update will be posted here when I’ve had time to read through the inevitable small print that arrives after the Chancellor sits down!
What’s expected on IP tax (at least):
- an update on CFCs – should have some IP content to it
- update on the consultation on IP tax and R&D which closed on February 22nd
- more information on the patent box (in the consultation update)
There might be more …
2
Feb 11
OT: Pfizer withdraws R&D from UK
In the midst of discussions about the future of IP tax and incentives in the UK comes the news that Pfizer is closing its UK R&D facility at Sandwich in Kent, after about 50 years of R&D at the site. The pharma group will no longer have any UK R&D operations.
It’s part of a restructuring that will move more of Pfizer’s R&D to the US, and reduce the amount of R&D that the group does, moving away from ‘high-risk R&D’ and eliminating altogether a number of areas of R&D. That said, a move to the US does suggest that they aren’t being enticed by tax incentives, as the US incentives for R&D are not the most attractive. The project seems to reflect its description as a cost-control exercise overall, unsurprising given the group’s cuts in sales forecasts, reflecting issues such as Lipitor coming out of patent protection in November.
6
Jan 11
OT: the Dilbert take on the Dutch Sandwich
When tax planning goes mainstream: http://dilbert.com/strips/comic/2010-12-28/
14
Apr 10
UK: Changes to IP Customs Procedures
HMRC’s Notice 34 on intellectual property rights enforcement at the UK external border has been updated (although not yet on the HMRC website) to take into account changes in EC regulations.
4
Nov 09
OFF-TOPIC: apology for silence
My apologies for the lack of recent updates on this site – time has been taken up with work etc as I transferred from being a solicitor to being a barrister. That has now all happened, and I am now a pupil barrister at Atlas Chambers – normal (or better) service should now resume herein.