§ Mr. Kelleyasked the Chancellor of the Exchequer if he will consider allowing expenditure on the registration of patents, and any agents fees reasonably incurred, to rank for income tax relief in view of the fact that at present the small innovator is deterred from pursuing ideas and invention which might be in the national advantage.
§ Mr. Robert Sheldon,pursuant to his reply [Official Report, 15th November 1976; Vol. 919, c. 376], gave the following information:
This expenditure already qualifies for tax relief, either as a deduction in computing the inventor's trading profits if he uses the patent for the purposes of his trade or, in other cases, by deduction from the patent incomes he receives.