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.
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 ? Contact me to find out more firstname.lastname@example.org www.exaltip.com