Clause 15 - Abolition of tax relief for patent royalties

Part of Finance Bill – in a Public Bill Committee at 4:00 pm on 16 May 2013.

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Photo of Sajid Javid Sajid Javid The Economic Secretary to the Treasury 4:00, 16 May 2013

I have taken the hint, Mr Amess.

To ensure that compliant taxpayers would not be disadvantaged, a written ministerial statement announcing the change invited anyone who thought that they had been adversely affected to contact HMRC. No representations were made to HMRC following that  announcement. There was no consultation before the abolition of the relief from the date of announcement at the time of the autumn statement.