Patent Box Regime

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Patent Box Regime

Companies in the UK can to apply a lower rate of Corporation Tax to profits earned after 1 April 2013 from qualifying patented inventions and equivalent forms of intellectual property. The relief was phased in from 1 April 2013 and the full benefit of the Patent Box has been available from 1 April 2017. The lower rate of Corporation Tax under the Patent Box is 10% compared with the main rate of Corporation Tax, which ranges from 19% to 25% depending on the accounting period.

Qualifying companies must notify HMRC if they wish to elect into the Patent Box. This must be done within two years after the end of the accounting period in which the relevant profits and income arise.

TAP has brought together a team of experienced professionals with a unique depth of experience in taxation reliefs for innovative companies, patent law and management.

 

Please get in touch by calling 0208 0371030 or complete the enquiry form on this page and a member of the R&D team will come back to you.