HMRC have published a consultation paper.
HMRC have published a consultation paper on how the UK can form a set of rules for the patent box that will comply with the new international framework for preferential intellectual property regimes. This arises from the Organisation for Economic Co-operation and Development’s work on base erosion and profit shifting.
The central point is that, for a business to gain the benefit of a preferential regime, it should have conducted the substantial activities that generated the income benefiting from that regime.
Comments should be emailed to matthew.hopkins@hmrc.gsi.gov.uk by 4 December 2015.
