Our patent box services
Although this tax relief was introduced in 2013, it still remains a very underclaimed tax incentive. So why don’t companies claim it?
It could be not being sure on where to start when pulling together a claim, or maybe the cost and time involved in applying for patents is off-putting. That said, if you’ve made a substantial investment in developing an invention or product then why not protect it? Especially if the resulting profit will only be taxed at 10% effectively.
Who can claim?
This is only available to UK companies liable to Corporation Tax. Your company (or group of companies) will qualify for this relief if:
- it owns or has the exclusive rights to a patent granted by the UK or European Patent Offices, or by certain countries in the European Economic Area, and,
- it’s made a significant contribution to the creation or development of the invention, or a product incorporating the invention.
The claim process looks quite complex, but our tax experts can compile the claim and make the necessary choices for you. If you’ve applied for a patent but it’s not yet granted, still talk to us. We’re able to accrue for the tax relief from the date you applied and claim it later once the patent has been granted.