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Reports of the death of the UK Patent Box are greatly exaggerated
Following the recent joint announcement from the UK and Germany on the patent box regime we’ve encountered clients who believe the UK patent box is to shut completely. By way of reassurance here’s a short piece from Richard Turner of FTI Consulting.
Given the recent announcements on the deal struck with Germany there has been some concern over the wellbeing of the only recently introduced UK patent box. It is true that the existing rules will be phased out. However, a new regime will be introduced which is likely to be similar to the existing regime in many ways.
Patent Box 2.0 – changes afoot for the UK’s Patent Box Regime
Back in January David Cameron gave his EU speech and said the following: “I want the European Union to be a success and I want a relationship between Britain and the EU that keeps us in it……When we have negotiated that new settlement, we will give the British people a referendum with a very simple in-or-out choice. To stay in the EU on these new terms; or come out altogether.“
Quite what that new settlement will be and how effective DC’s negotiating skills will be is something of a slight unknown. However, if last week’s joint announcement that George “I’ve secured us a discount” Osborne made with Germany on the subject of the Patent Box is anything to go by then the EU negotiation may prove interesting! (more…)