Patent Box

Patent Box

The Patent Box scheme has opened up significant tax benefits for innovative businesses that hold patents, introducing a reduced rate of corporation tax on qualifying patent income.


The benefit of this reduced rate will be phased in over the coming years, ultimately settling at 10% by 2017. This compares to headline corporation tax rates of up to 23%. 

 

Your challenges


If your business holds patents, you may be able to benefit significantly from the Patent Box; however, the legislation is not straightforward:

 

  • Which of my patents are eligible? What innovative activity should I consider patenting?
  • How do I identify and maximise eligible patent profits?
  • What issues do I need to be aware of when it comes to patent royalties?
  • My business is international and patents are not held in one place - can I still benefit and how can I maximise my claim?
  • What is the most effective way to convey this information to HMRC?
  • How does the Patent Box interact with the R&D Tax Relief and R&D Expenditure Credit schemes?

How we can help


  • We can either fully manage your claim, or provide specialist advice to augment your internal processes.
    Our Experts include over 1,300 scientists, accountants, software developers and engineers with a wide range of specialisms.
  • We will map your entire patent portfolio, review your current IP ownership policies and calculate relevant IP income in order to identify the potential scope of your claim and advise you on how you might maximise the benefit of the scheme.
    Many organisations are generating income that they do not realise qualifies under the Patent Box scheme and specialist expertise is required to identify this.
  • We will comprehensively document your claim and manage discussions with HMRC.
    We have a close working relationship with HMRC’s Patent Box specialists, so we can ensure your claims are processed with minimum fuss.
  • We can help you to design processes and systems to maximise the value of your next claim or simply make it easier to pull the relevant information together.
    Every year, we identify in excess of £80m of expenditure eligible for tax deductions in the UK.
  • Our service is delivered with no upfront cost and no risk.
    We work on a success fee so you only pay us a % of the benefit we achieve for you.