Last year, £942.5 million was claimed using the UK government's Patent Box scheme. This scheme allows innovative companies to pay a reduced rate of tax on at least some of the profits generated from sales of products having UK patent protection.
In my experience, some patent owners are very aware of the Patent Box and are making good use of it. But, from what I observe, others have little awareness of the scheme or the potential magnitude of its benefits.
It's entirely possible for the tax savings provided by the Patent Box to be greater than the costs associated with obtaining and maintaining the patent portfolio.
Surely that's worth a look.
Feel free to contact me or your usual Boult Wade Tennant adviser for further information.
£942.5 million claimed using the patent box last year