Definition of patent box

The Government has made a number of revisions over time to a UK patent box regime. It is designed to encourage companies to locate in the UK high-value jobs and activity associated with the development, manufacture and exploitation of patents. The regime allows companies to apply an effective preferential rate of corporation tax to profits attributable to patents.  In line with the recommendation of the Beps project, along with other countries the UK has made changes to ensure that profits qualifying for this innovation incentive bear sufficient ‘nexus’ to the location in which the development expenditure was incurred. [1]

FT Articles & Analysis

No articles are associated with this term