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Patent Box is a UK Government scheme to reduce the Corporation Tax paid by companies on profits generated from the sale of patented products and from the use of patented processes and machinery.

With the top rate of Corporation Tax increasing to 25% in 2023, innovative companies would be well advised to seek patent protection for the their products and services to mitigate the effect of the planned Corporation Tax increase and maximise the return on their R&D investment.

The key benefit to those eligible is a significant reduction in Corporation Tax paid on qualifying profits. In order to be eligible, potential beneficiaries must have appropriate patent protection in place that can be directly linked to a product or service generating the qualifying profits.

How can Withers & Rogers help?

Withers & Rogers can help review the potential for patentable matter within an organisation via an intellectual property (IP) audit and assessment. Following this we will suggest a possible course of action, together with associated costs, steps involved and a realistic timescale.

As well as assisting organisations looking at the possibility of protecting IP for the first time, we are working with existing clients to review portfolios because in some instances, the decision as to whether a technology should be patented or not may now have swung in favour of patent protection.

If you think Patent Box may be of benefit to your organisation and you would like a free initial discussion, please get in touch via the link to our “Contact Us” section.