Research and Development

Webinar – Patent Box: Your guide to the lesser known sibling of R&D tax relief

Patent Box is a tax relief aimed to boost innovation and incentivise companies to develop and retain intellectual property (IP) in the UK. Patent Box reduces the corporation tax rate to 10% on profits attributable to patented IP. With the main corporation tax rate currently standing at 25%, this translates into an effective 15% tax saving on qualifying IP profits. Patent Box has been around since 2013 and so far, the uptake has been surprisingly low. Only 1,535 companies claimed in the financial year 2021. Patent Box is designed to complement the R&D tax relief scheme, but the statistics suggest that only about 1 in 80 Small and Medium Enterprises who claimed R&D tax relief went on to make a Patent Box claim, while for large companies this ratio drops dramatically to almost 1 in 8. Why is it easier for large companies to claim? One of the key reasons is the need for a multi-disciplinary approach. To make the journey from the end of a successful R&D project to the submission of the first Patent Box claim, the company will need specialist tax, accounting, and legal advice. We have teamed up with Bryers and Michelmores to deliver a well-rounded, practical summary of what all innovative businesses should know about Patent Box to keep their doors open to this valuable tax incentive.

20th October 2023





0.23 Introduction

3.34 R&D Tax Relief – Patent Box Overview

22.24 What your Patent Attorney will consider – Filing patents

35.10 Commercial use of Patent Box

47.46 Summary and Q&A

  1. What’s the different between a sole and exclusive license?
  2. How long does it take to get a patent granted?
  3. Can you make a retrospective claim?
  4. Can you have R&D Tax Relief and make a Patent Box claim at the same time?
  5. IP Holding Companies – do they work for making a successful Patent Box claim?

Get in Touch

To read more about Patent Box click here or if want to discuss your individual circumstances with an Old Mill financial expert, please do get in touch by clicking here…