Patent Box: reducing corporation tax due on patent income

AJD Accountants & Business Advisers - Fixed Fee Accounting & Business Advice

The patent box regime applies a reduced rate of corporation tax to profits attributable to qualifying patents and similar intellectual property (IP). Unincorporated businesses can’t qualify for the patent box. The patent box tax rate has gradually been reduced to 10% since the introduction of the regime in 2013 (see table). To benefit from this…