Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department made of the potential merits of the Patent Box; and what metrics were used when making that assessment.

The Patent Box’s objective is to encourage companies to commercialise intellectual property in the UK. In November 2020 the Government published an evaluation of the Patent Box which considered its impact on investment, as one metric of measuring commercialisation. The evaluation is available online: www.gov.uk/government/publications/evaluation-of-the-patent-box.

The Government keeps all tax reliefs under review.