The Patent Box means the tax rate on profits made from patents is to drop to just 10%...
This is a cracking way to encourage firms to patent their Intellectual Property (IP), and exploit it from here in the UK.
Any profits derived from exploiting a patent you own will be taxed in future at 10%... and not the current 20%
Patents can cost as little as a few grand to file... so should easily pay for themselves... because you get up to 20 years of paying tax at the reduced rate
So why not take a look at your IP... and take a look at Patenting some of it ?
... and you don’t need a white coat... or an R&D department
Research & Development tax credits are the Government's way of encouraging companies to develop new products and services…
Any company that spends money trying to improve a product or service or even a process through a technological advance where there's doubt about the project's success is likely to be eligible.
Is that you?
There’s a real good chance it is, and frankly HMRC are desperate for SMEs like you to claim the tax relief, regardless of the sector you operate in.
