What is the Patent Box?
The Patent Box tax relief is the Government’s way of rewarding companies that are driving innovation.
The aim is to encourage the development of new patented inventions in the UK. If your company is making a profit on your patented inventions, you will be eligible for a lower effective corporation tax rate of 10% on your relevant profits.
This will save your company money and allow you to invest in future innovation.
Do I Qualify?
As the Patent Box regime is optional, a company can claim the relief if it has opted into it.
• You will be eligible if you own the patent outright.
• You could also be eligible if you have an income from licensing a patent or even if you have sold a patent.
Which Patents are eligible?
HMRC accepts many types of patents, including any patents granted by:
• The UK intellectual property office.
• The European Patent Office.
• Many countries in the European Economic Area, including: Austria, Bulgaria, Czech Republic, Denmark, Estonia, Finland, Germany, Hungary, Poland, Portugal, Romania, Slovakia and Sweden.
• The creation or development of the patented invention.
• A product incorporating the patented invention.
If you are eligible for the Patent Box Tax Relief, it is likely that you are also eligible for R&D Tax Relief.
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