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Smartphones, Research and Development and Corporation Tax: Current Treatment and Future Possibilities

The object of this article is to summarize the parts of UK corporation tax law relevant to businesses that contribute to the research and development (R&D) of smartphones, and to propose future improvements. From 1 July 2016, English statute concerning the UK Patent Box regime mirrors the existing or expected requirements of all European Union (EU) Member States Patent Box laws and Organisation for Economic Co-operation and Development (OECD) standards, so the legal analysis is relevant to many other jurisdictions. The article then proposes some future corporation tax law enhancements relevant to lawmakers globally. These proposals require imagination, and aim to simultaneously encourage more R&D investment by businesses and increase the total long-term amount of corporate tax raised.