Patent Box

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What is Patent Box?

Introduced in 2013, the Patent Box is part of the Government’s range of incentives encouraging innovation and maintaining the UK’s world-leading position in many sectors.

Patent Box has gone through various phases and developments in recent years, but has always maintained an incentive to offer additional deduction in calculating taxable profits.

The HMRC scheme is designed for companies to apply a lower rate of corporation tax to profits from patented inventions. If eligible, a reduced corporation tax of 10% is applied, rather than the standard tax rate of 19%.

Who can qualify?

  • Available for those who are legal owners of patents
  • Companies that are entitled to receive patent income
  • Companies holding an exclusive license to exploit a patent commercially
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