Patent Box Explained – UK

The patent box is a government incentive that enables companies to apply a lower rate of corporation tax (currently 10%) to profits earned from its patented inventions. The legislation is relatively new (it was introduced in 2013) and is very complex. Advanced planning is essential to get the maximum benefits or even to be able to claim at all.

What will we do for you?

We will assist in compiling and assessing associated costs and tracked profits from relevant patent protected products, and advise on:

  • The implications of existing R&D eligible expenditure on calculation of relevant IP income;
  • Managing corporation tax benefits of the combination of both R&D tax relief and Patent Box schemes;
  • On-going legislative changes & impact on current or future patent box claims.
  • We will prepare the Patent Box report and associated calculation for inclusion in your tax return.

Want to know more?

Please get in touch to arrange a no-obligation discussion.