Where a company creates a product or process which is patented, or the company holds an exclusive licence to Intellectual Property (IP) rights, then the Patent Box Deduction may be available. A claim for the Patent Box Deduction reduces the rate of corporation tax from 19% to 10% for profits generated by the patented product.

The process of making a claim is not straightforward and that is why it is imperative to employ a Patent Box expert to maximise your company’s claim.

Our team of tax experts at Bracey’s are well placed to assist you with calculating patent-related profits and the subsequent Patent Box Deduction available. We make the claim process simple and straightforward whilst maximising the relief claimed.

We can also provide advice on whether your company has IP that is suitable for patenting and can assist in planning for your company’s future R&D efforts.

If you’d like a greater understanding of the process of a Patent Box claim, as well as some information on eligibility, you can refer to our article, Patent Box Deduction – Tax Incentives for Innovators don’t have to stop at R&D.

Alternatively, if you would like to find out first-hand about claiming the patent box deduction or getting a patent in place so that you claim the relief, get in contact with us for a free initial conversation.