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Patent Box Deadline - new regime

Thursday, 30 June 2016

Patent Box tax relief was introduced in April 2013 as a way to reward innovative UK companies. In general terms it means that profits from patents are taxed at 10% rather than 20%; potentially a good tax saving for many companies.

However the patent box has had a few issues due to its complexity and the phasing in of benefits. It has also come under attack; there have been concerns that companies are using preferential IP schemes to shift profits between different jurisdictions.

Because of the last point the UK government has had to compromise on the patent box tax relief. From 1 July 2016 there are major changes to the regime.

The main change to the scheme relates to where the development work occurs; any benefit will now be linked to the amount of development work incurred by the company claiming the relief.

Some companies with patents or patents pending will need to review whether they elect into the patent box as of 30 June 2016. Deciding whether or not you should elect into the regime can be extremely complicated, particularly for loss making companies.

If you think this might affect you please give me a call.


Steven Holmes, Tax Consultant, Armstrong Watson

T: 0113 2211 300 


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