The UK Patent Box will introduce a 10% tax rate on UK profits attributable to patented inventions. The new regime will be phased in over four years from 1 April 2013. This change is good news if you’re a company with patented IP in UK or a UK company that could patent their technology in the future. These new rules will benefit companies from a wide range of industry sectors. To give just a few examples, this will be applicable to companies manufacturing a wide range of items which include patented items such vacuum cleaners, stereo speakers, prosthetic limbs as well as services such as delivery of mobile phone communications.
How to take advantage of Patent Box
What does this mean for your clients?
You should determine how you can get the most out of the Patent Box by:
If you’re a multinational company, you should also consider whether to centralise patent ownership in the UK in order to maximise the benefit obtained from the regime.