The UK Patent Box - All You Need to Know

Introduction

The UK patent box provides some tax relief for companies that have income connected with patents.

This is not just royalties, but also income from sale of products that are protected by patents, or products that include elements protected by patents. It will also apply to income from products and services that involve patented processes.

This course will look at the details of the relief, including the calculation issues that may arise, with a particular focus on planning points and potential traps including the FA 2016 changes to calculation.

What You Will Learn

This course will cover the following topics:

• What is the patent box?
• Electing into the regime
• Who can claim the patent box relief
• Ownership
• Exclusive licences
• Development requirements
• Group company points
• What patents and other IP qualify for relief
• UK patents
• European patents
• Other IP
• How the relief is calculated
• The standard calculation
• The streaming calculation
• Treatment of patent box losses
• Finance Act 2016 changes to calculation
• Impact of the relief on the corporation tax calculation
• Planning points
• The future of patent boxes, post-BEPS