CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Tax Relief Expected In Intellectual Property Shake-Up

Tax Relief Expected In Intellectual Property Shake-Up

by Jason Gorringe, Tax-News.com, London

27 November 2001


In his pre-budget report later today, UK Chancellor Gordon Brown is expected for the first time to afford tax relief to companies buying software licenses, brand names and hi-tech knowhow under a radical new shakeup of the country's intellectual property rules.

According to economists, changes to the intellectual property taxation regime- which as well as more general forms of intellectual property also covers brand names, software development, and telecommunication licences- are necessary in order to ensure that Inland Revenue rules properly reflect the changing structure of the UK economy.

The speculation has been met with cautious enthusiasm by UK business groups, who have already voiced concerns about the complicated nature of the UK taxation system for the corporate sector. Speaking to the Times on Monday, Andy Newsome, a tax partner in the Anderson accountancy firm explained: 'People will welcome this, but it is introducing more complexity.'

.

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »