Patent Box incentives

摘要

In the UK government's 2012 Budget, the much-anticipated 'Patent Box' initiative was finally announced. From 1 April 2013, the existing R&D tax credit will be enhanced so that UK-based companies involved in eligible innovative technologies or processes will effectively get ￡2.25 for every ￡1 they spend. Furthermore, when it comes to paying corporation tax, as a result of the new initiative companies will pay a lower rate of 10% on the profits from patented products developed through the R&D process.