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Written question asked by Austin Mitchell (Labour) on Thursday, 12 February 2015, in the House of Commons. It was due for an answer on Monday, 23 February 2015. It was answered by David Gauke (Conservative) on Wednesday, 25 February 2015 on behalf of the Treasury.


Patents

Question

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.

Answer

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.


Secondary information

Type
Written question
Reference
224364
Session
2014-15
Grouped for answer
Yes
Subjects
Corporation tax Patents Tax allowances
Contains statistics
Yes
Link
View this Written question on www.parliament.uk