Patents: Corporation Tax

(asked on 16th March 2016) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, how many companies have applied for the lower rate of corporation tax under Patent Box.


Answered by
David Gauke Portrait
David Gauke
This question was answered on 29th March 2016

Due to companies being able to make a Patent Box election up to two years after the relevant accounting period, we will not be able to get full figures for the first year of the Patent Box until April 2016. The following figures are therefore projections.

The estimated amounts of Patent Box relief can be found at the link below;

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/487119/Dec15_expenditure_reliefs_Final.xlsx.pdf

About 480 companies made Patent Box relief elections for the first year 2013-14 alone.

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