Patent Box Regime

The Patent Box regime was introduced with effect from 1 April 2013, and by 2017 the tax rate on profits from qualifying patents will be only 10% (there is a tapered rate of relief over the next four years until the 10% rate is reached). The profits subject to this new rate of tax are those from products where all or part of the product is protected by a new or existing patent granted by the UK Intellectual Property Office or the European Patent Office.  Only part of the product (eg a component) needs to be patented for all of the profits from the product to be within the Patent Box regime.

The Patent Box regime is not limited to owners of patents, but also those companies which hold exclusive licenses over patented technology. The calculation of the relevant profits is not straightforward; we can help by identifying products that may be patentable, working with Patent Attorneys to assist in obtaining a Patent, and then performing the necessary calculations to support the claim. The scope for benefitting from the new regime is huge and companies should be working with us now to maximise the benefit of this relief. The Patent Box regime is  separate from R&D although it’s likely that both will be relevant for many companies.

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