Patent Box

What is Patent Box?

Businesses that invest in intellectual property should be rewarded.


This scheme is designed to reward companies that develop, retain and exploit patents in the UK. It is administered by HMRC. The tax on profits from patented inventions is reduced to 10%.

It may be that the patented element of the product or process is minor. But 100% of a company's worldwide profits arising from product income should qualify for 10% corporation tax.

Our insight, your reward

We can help you actively identify, value, manage, and exploit your IP. We can identify opportunities for patent applications and claiming a Patent Box corporation tax saving.

Our work is in itself a valuable audit of your intangible IP assets. Whatever your business, your product and process IP could be significant and can be one of the most valuable assets your business owns.

Our service is tailored to your needs

Whatever works for you, from offering the specific piece of advice you need through to handling the whole process from start to finish.

We can manage your Patent Box election and claim from start to finish, which includes dealing with any HMRC queries along the way.

More than that we can undertake a programme of patent extension work, where we aim to extend the life and size of return from the Patent Box legislation.

The big picture

The Patent Box is closely linked with R&D tax relief and a company can often claim tax relief under both schemes.

GovGrant can offer you advice to maximise your claims across both schemes and how to use your IP in support of your commercial strategy.



Facts
and figures

Even if the patented element of the product is small, 100% of income from the whole product should qualify

The reduction in corporation tax rate applies to profits generated in the ‘patent pending’ period

To qualify for Patent Box tax relief, only a GB patent is required

The scheme includes IP profits derived from worldwide sales and patent licence revenues

 
 

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