Insights

Research and development (R&D) tax credit relief has been available for many years to encourage companies to create intellectual property (IP) within the UK. Patent box tax relief was introduced in April 2013 to encourage those companies to then commercialise their IP within the UK because, although the UK was gaining a reputation for attracting innovation, the numbers of patent applications being made for developed IP was typically lower than in other European countries.

Our article in Businesszone.co.uk (now removed) on patent box tax relief explained what is patentable, what the rules offer and the impact of new rules that require all patent applications to demonstrate a link to the corresponding R&D activity conducted in order to qualify for the tax relief. We also outline three ways to access patent box relief for existing and new applications.

RJP has helped many companies across a wide range of industry sectors to offset the costs of R&D expenditure with R&D tax relief, enabling them to pay either no corporation tax or reduced payments depending on the circumstances. Find out more about how we could help your company to access patent box tax relief and make the most of R&D tax credits by contacting Lesley Stalker.