What is Patent Box tax relief? Part 1
In this article we explore how Patent Box allows UK companies to apply a reduced 10% Corporation Tax rate on profits from patented inventions. To qualify, a company must pay Corporation Tax, profit from patents, own or exclusively license them, and have undertaken qualifying development. In 2022-2023, 1,600 companies claimed £1.5 billion in relief, with 61% from manufacturing, while other sectors had minimal participation.
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