The minutes of a meeting during Badenoch's time as business secretary in June 2023, seen by the Guardian, stated that the Dyson board member Ian Robertson lobbied Badenoch on the patent box tax benefit, which had "worked very successfully but now that corporation tax has risen [sic] its effectiveness".
James Dyson, the firm's founder, was present at the meeting, where he asked Badenoch to address rises in corporation tax.
According to the minutes from the meeting, released under the Freedom of Information Act, Badenoch promised to look at the concerns and the department followed up with a note to the Treasury.
The patent box, introduced by George Osborne from 2013, was aimed at encouraging UK-based hi-tech companies to commercialise innovation, by allowing them to pay corporation tax at a rate of only 10% on the proceeds of new inventions.
The 2023 minutes said Robertson "noted the percentage allowance [of the patent box tax] should be increased. SoS [secretary of state] noted she would look into this."
The exchange was noted to be followed up with an "action", with the secretary of state's private office to "get note for SoS on the patent box".
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