The Patent Box
Get rewarded for IP generation with up to a 9% reduction in corporation tax from IP driven profits thanks to the patent box scheme
Benefits of the patent box scheme
Claim up to a 9% reduction on corporation tax for IP generated profits.
Protect your IP and aid your marketing with patents.
Despite the name it applies to more than just patents.
Find out more about this scheme on patent box explained
Why work with inovasi?
Our technical experts with a deep understanding of patentability and can aid your business in finding potential patents in your product/process.
With our patent attorneys we are able to get patents granted for commercial/patent box uses, at a low fixed cost.
Rest easy knowing your claim has been strictly adhered to the HMRC legislation, reducing the chance of an enquiry and maximised.
Our team has over 15 years of experience of the patent box scheme and are always up to date on the latest guidance and changes.
Integrate with innovation relief
By integrating your patent box with grant funding, R&D, and other forms of funding you can ensure you maximise all aspects of your innovation process.
Find out more about why your company should partner with an innovation firm
Patent Box Explained
What is the patent box scheme?
The patent box scheme is a government IP incentive initially introduced in 2013. It currently allows you to qualify for a reduced rate of corporation tax down to as little as 10%. This could be 9% from the normal 19%. This scheme has been put in place to promote innovation and reward companies that develop and utilise IP.
It applies to those who own or licence a patent from the allowable patent offices, the UK Intellectual Property Office, the European Patent Office or certain countries within the European Economic Area. As well as similar from of IP like certain other medicinal or botanic innovation right.
Over £4.9 billion has been claimed since the inception of the scheme, however only a small amount of companies are claiming this form of tax relief, as little as 920 SME's claimed in 2017-2018.
Who qualifies for the Patent Box Scheme?
To qualify for the patent box there is a list of requirements:
Be a UK limited company
Be subject to corporation tax
Own or licence a patent or Similar IP – You must own or licence a patent that is registered in UK Intellectual Property Office, the European Patent Office or certain countries within the European Economic Area
To have performed development on this IP (R&D) – If you created and own the patent then this is the IP development you undertook to have the patent, if you are licensing a patent you have to have the rights to develop upon the initial IP
To be generating profit from this IP – You only get the corporation tax reduction on the profits related to the IP so to benefit you must be making profit from this IP