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Patent box relief is a government scheme offering a reduced 10% corporation tax rate on profits from patents and other intellectual property. Companies that own or exclusively license qualifying patents may be eligible for this relief, which applies to profits from using, selling, or licensing those patented inventions.
To qualify for the relief you must own or have an exclusive licence to the patent.
The intent of the patent box scheme is similar to that of R&D tax relief, as it is designed both to encourage businesses to invest in research and development and incentivise the commercialisation of IP.
This relief is received in the form of a tax deduction, and can be claimed in conjunction with the R&D tax relief scheme.
Sales from the selling of a product which is covered by a patent.
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Any payments received from a third party using the owned patent.
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Income derived from the selling of a patent or the patent's exclusive licensing.
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Revenue received as a result of infringement on your patent from unauthorised use (damages, insurance proceeds/other compensation): any income payable to the company from an infringement or alleged infringement.
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If your patent meets the criteria, you may qualify for patent box relief:
Does your business hold any patents?
Are they UK or EU registered?
Does the business generate profits from this patent?
We would be happy to help you, please get in touch with any queries by using our contact form. We’ll get back to you within 24 hours.