From a Treasury press release on the Budget today:
“As part of the Government’s commitment to examine the challenges facing the UK tax system and ensure its competitiveness, and focus on supporting the high value-added priority sectors in which the UK can excel in the future, the Government will consider the evidence for changes to the way the tax system encourages innovative activity and the relative attractiveness of the UK to global firms as they make decisions on where to locate their R&D and other innovation activities. Working with representatives across the business community, the Government will examine the balance of taxation of innovative activity, including IP. The Government will assess the evidence on the potential impacts of any reforms on economic activity, consult further with industry and set out its assessment and proposed approach before the Pre-Budget Report.”
Broadly – expect consultation on a royalty-box type of tax incentive to appear soon.