Carousel_Arrow Chat icon_cookie IHT_trust_wills IR35 Combined Shape 2 Group 10 Login Mobile Menu Share Share Email SubMenuMobile Group 9 VAT View_Gallery View_List capital_allow Triangle 2 Copy Close construction cyberpro employment_tax_shares emplyer_solutions entrepreneurs_corps fee_protect Group 7 grant_fund Group i_Clock i_Consult i_Done i_Eligibility_Tick i_Enter i_Filter i_HMRC i_Negative i_Play i_Plus i_Reset i_Support_Legal i_Support_TaxDesk i_Support_VAT i_Tick noun_marketing_1872083 noun_online_2126759 i_download i_meet Group Copy 24 Group 18 noun_electrical_1240755 copy noun_Technology_2125422 noun_Science_2031115 i_tick_bullet_block international_tax patent_box private_client property_sdlt r_and_d reliefs_incentives Search specialist_tax status tax_indemnity valuation YouTube
Markel Tax

Patent Box

The effect of Patent Box tax relief is to make a 10% headline corporation tax rate available for UK companies with patent rights or an exclusive license. 

As one of the first advisers in the UK to claim Patent Box tax relief, we can prepare the detailed calculations and reports required by HMRC when making an application.

Where no patent exists, the team at Markel Tax can provide a simple, fixed-fee, application process. This can help secure the patent before making the application for Patent Box tax relief. 

Spot a Patent Box relief opportunity

Patent Box tax relief opportunities can arise in a number of different ways.

Companies may be eligible if they:

  • Have a patent or exclusive licence on a patented product
  • Receive income from:
    • Sale of patented items or those incorporating patented technology (such as sales of spare parts)
    • Licenced-in patent rights
    • Compensation income from infringement of intellectual property rights
    • Sale of intellectual property

Companies may be eligible in the future where they:

  • Would like to benefit from the headline 10% corporation tax rate by applying for a patent
  • Have filed a patent(s) that is pending grant
  • Have potentially profitable technology which has not yet been patented and is not in the public domain
  • Are looking to set up a licencing arrangement to exploit qualifying intellectual property

The process

The Markel Tax team will typically take clients through the following processes:

Patent applications
Step 1 - A complimentary pre-qualification assessment to identify patentable products
Step 2 - Drafting and filing the application to the Intellectual Property Office 
Step 3 - Examination of application and grant of patent

Patent Box tax relief
Step 1 - A complimentary pre-qualification call to establish eligibility and determine the size of the claim
Step 2 - A technical meeting with one of our Patent Box tax consultants to assess accounting systems and identify profit streams covered by intellectual property
Step 3 - Preparation of a comprehensive submission to HMRC, including a detailed breakdown of workings and a report covering compliance and methodologies used
Step 4 - Liaison with HMRC to secure acceptance of the Patent Box claim

Talk to us...

Justine Dignam
Justine DignamDirector of Incentives and Reliefs
James Clark
James ClarkAssociate Director - Incentives & Reliefs
Neil Bowden
Neil BowdenR&D Tax Consultant