The Patent Box is a tax incentive offered by the UK Government to encourage UK companies to undertake R&D work.
The Patent Box allows profits derived from patented technology to be taxed at a corporation tax rate that is significantly lower than the headline rate.
What do we do?
Our team of patent attorneys are experienced at supporting clients in obtaining UK patents that can then be used for Patent Box purposes. This includes ensuring that all relevant products and processes are captured by the patent, as well as documenting product coverage across large portfolios and liaising with your tax advisers.
The UK patent application process involves a few key stages before a patent can be granted. Under normal circumstances, the sequence of these events can take anywhere between two and five (or more) years. Corporation tax savings through Patent Box can only be realised once a patent is granted, so it will typically be desirable to have a patent grant as soon as possible. Thankfully, there are various ways to accelerate the normal UK patent application process.
Patent attorneys at Gateley IP can advise on the best way to streamline and accelerate the application process to achieve granted UK patents more quickly. In many cases, we have been able to achieve a granted UK patent within 12 months.