Do you prefer corporation tax at 25% or 10% ?

Yes you are right on £1m profit that would be a saving of £150k!
The choice could be yours if you own and use a patent in your product sales!

A really good article on this area from Caroline Walton of Claritas is available through the link here 

UK Corporation tax is set to increase by a whopping 32% in 2023. By owning a UK patent directly related to your profit generation it is possible to reduce corporation tax down to 10% by using the Patent Box scheme. 

The UK Patent Box is a corporate tax relief open to companies paying corporation tax that own or exclusively licence patent(s) and that have received income from products or services utilising those patents.

​46 times more UK companies make R&D tax credit claims each year than patent box claims (60,000 vs 1,300)! This discrepancy is in part due to lack of understanding of the patenting process and the value creation available from patenting. 

I am hoping that a 60% saving of corporation tax might just motivate UK businesses to think about IP in value creation terms rather than just protection. Claims can even be made 2 years retrospectively. 

What’s not to like ?

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Helping business to improve value by using intellectual property to protect ideas, creations, inventions, and competitive advantage.
Protecting #Innovations with #Patents and #Brands with Registered #Trademarks also with Unregistered Trademarks, #DigitalBrand #BrandProtection and #SocialMedia. ​Help with using #Copyright and #TradeSecrets to protect your Software and Business. 

We Can Help You so call +447587885131 for a Confidential and Free Initial Chat or check www.Exaltip.com for more information.