New 10% Tax Rate for Patent Income

Taken From RMS Bentley Jennison Pre-Budget Report Review

A new tax rate of 10% for income derived from patients s to be introduced, compared to the current corporation tax rte of 28%. The details reveal that the new regime is set to apply to patents granted after April 2013, i.e. in more than 3 years time, with the legislation only to be included in the Finance Bill 2011, following consultation on the design of the scheme. Whilst this measure may appear to be aimed far into the future, the development of patented products can take time and the intention is clearly to encourage future R&D in the UK.

If you would like more detail in this area please get in touch with Damien Bové damien.bove@idaconsultants.com

Damien Bové works as a drug development consultant (pharmaceutical or biotechnology) and regulatory consultant, we work with our clients to define a drug development target, define a drug development strategy, define a regulatory strategy or define a commercial strategy. Our clients are generally raising funds or looking to license out their technology and we help them achieve it. If you want to know more don’t hesitate to get in touch.

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