Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.

Donate to our crowdfunder

Patents

HM Treasury written question – answered on 25th February 2015.

Alert me about debates like this

Photo of Austin Mitchell Austin Mitchell Labour, Great Grimsby

To ask Mr Chancellor of the Exchequer, what the value of tax reductions for companies under the patent box legislation has been since April 2013.

Photo of Austin Mitchell Austin Mitchell Labour, Great Grimsby

To ask Mr Chancellor of the Exchequer, how many companies have applied the lower rate of corporation tax associated with patent box legislation.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

The patent box was introduced in April 2013 and companies have up to two years from the end of their accounting period to elect into the regime. The first complete set of data will therefore not be available before end April 2016.

Does this answer the above question?

Yes1 person thinks so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.