Enabling companies to
apply a lower rate of
Corporation Tax

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Patent Box by C3.

The Patent Box scheme came into force in April 2013 and enables companies to apply a lower rate of Corporation Tax to profits earned from its patents after this date (as well as profits arising from supplementary protection certificates, regulatory data protection and plant variety rights). The relief available will be phased in over a four year period from April 2013 and once the full benefit of the regime is in effect, the lower rate of Corporation Tax which will be applied to qualifying profits will be 10%. The 10% rate will apply from April 2017.

Patent Box is focused on patents rather than other forms of intellectual property (IP) as they have a strong link to R&D and high-tech manufacturing and are used by innovative companies in a wide range of sectors. It is intended as an incentive for companies in the UK to develop new innovative, patented products and it is hoped, will encourage companies to locate the high-value jobs associated with the development, manufacture and exploitation of patents in the UK and so maintain the UK's position as a world leader in patented technologies.