P6 Advanced Taxation (UK variant) is likely to feature questions examining the new patent box rules in upcoming sittings. As it is a new relief that companies can take advantage of, it is highly topical and examinable, and may come up for anything ranging from 2 to 8 marks on the examination in either a scenario on corporation tax or a smaller Part B question.
Knowing how the relief is computed is important and will probably feature for the bulk of the marks, but, especially if it is a lengthier requirement, being able to write about the patent box rules and advantages will be important. To do that, it is recommended you read the following.
Wider reading
HMRC's patent box page
A blog post from PwC on patent box
Knowing how the relief is computed is important and will probably feature for the bulk of the marks, but, especially if it is a lengthier requirement, being able to write about the patent box rules and advantages will be important. To do that, it is recommended you read the following.
Wider reading
HMRC's patent box page
A blog post from PwC on patent box
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