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Reducing corporation tax due on patent income

30 November 2017

This update sumarises the patent box regime which applies a reduced rate of corporation tax to profits attributable to qualifying patents and similar intellectual property (IP).

To qualify your company must own, or hold an exclusive licence to use, one or more patent issued by the UK Intellectual Property Office, European Patent Office or one of the countries detailed in this update.

Profits from the company creating or developing the patented invention, or from a product incorporating the patenting item, qualify for the patent box regime.

It is essential that you prepare your accounting system to benefit fully from the patent.  Our experts can advise you on delivering all the information required for the complex patent box calculation.

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