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Business Services  •  Business Tax  •  Personal tax  •  Small Business  •  Tax Planning  •  Tax Relief  •  Uncategorized

3 ways to access Patent Box tax relief under the new ‘Nexus’ regime

By RJP LLP on 24 October 2016

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.

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60 Day Deadline for CGT Returns and Tax Payments

If you sell a property and incur capital gains tax on the transaction, you will need to file a tax return and also pay any tax that is due within 60 days of completion, or penalties will arise. Need help with your property taxes? Talk to us.

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.