The Patent Box is a 10% rate of corporation tax that can be claimed by companies that have patented products, or processes, developed by the company. It is applicable to patent related profits and applies for the life of the patent, lasting up to 20 years.
The uptake of the Patent Box is disappointing, particularly as the tax savings from paying tax at 10%, compared to the normal 19% rate, over the whole life of the patent can be great.
Of the companies that claimed, over half were in manufacturing, including the pharmaceuticals.
Has a patent been granted, or in the process of being granted (patent pending), in any of the following accredited patent offices: UK Intellectual Property office; European patent office; Austria; Bulgaria; The Czech Republic; Denmark; Estonia; Finland; Germany; Hungary; Poland; Portugal; Romania; Slovakia and Sweden
If the answer is YES to both of the above two questions,
then the company may have a qualifying patent and be able to claim patent box benefits
if any of the following circumstances apply.
Does the company sell any products that incorporate at least one patent registered with an accredited patent office?
Has the company been granted any exclusive licences to exploit a product or process covered by at least one patent registered with an accredited office?
Our specialist team can advise on all aspects of this generous relief. Our advice is tailored, pragmatic and focused to your needs.
We can help you to maximise the available benefits by:
Taking the right steps with your R&D and Patent Box claims
Ensuring your business qualifies for tax reliefs and incentives.
Helping your business make the most of its assets by looking at tax incentives.
Identify R&D projects, and reducing your tax bill.
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