PATENT BOX GUIDANCE

摘要

HMRC has published guidance on the forthcoming patent box regime explaining who can elect for the patent box, which patents are eligible, and how and when a claim can be made. The rules are well worth a close look as they have been deliberately drafted to encourage the UK to be competitive. From 1 April 2013, a company's profits derived from patents will be subject to a reduced rate of tax, which will be phased in over five years, eventually reducing to 10% from April 2017. The guidance confirms that a company will need to make an election to benefit from the reduced rate of corporation tax, within two years after the end of the accounting period in which the relevant profits and income arose.