The Patent Box
The ‘Patent Box’ scheme allows companies to apply for a lower rate Corporation Tax to profits generated from patented inventions.
David Gauke, the treasury minister, is keen to ensure British SME’s benefit from the ‘Patent Box’. He has said “We need to get the message out. The large companies are well aware of it, but it’s important that we remember this isn’t just about big pharmaceutical companies. There are lots of businesses that can benefit – we’ve got a very good message now in terms of business tax and it’s important that companies are aware.”
Click here for HRMC’S guide the Patent Box Scheme