How to claim Patent Box tax relief?

Our process for claiming Patent Box

The process of claiming Patent Box involves technical formulas, and carrying out separate calculations for each individual patented product or IP right. All of these complexities can be off-putting and in some cases they can deter businesses from applying at all.

Our process takes the burden away from you, maximising the relief and keeping you compliant with HMRC legislation:

1. Technical assessment

We’ll work with you to uncover all existing IP and patentable products, whilst scoping out any future projects. This entails compiling a schedule of products and services associated with the qualifying patent, and documenting the technical justification to support it.

2. Forensic accounting

We’ll then assemble a methodology to identify relevant IP income streams and validate the apportionment of costs. We’ll help you to implement internal processes to capture the required data in future years.

3. Make the election

Finally, we’ll incorporate Patent Box into your corporation tax computation, and provide supporting evidence and analysis to HMRC. You’ll then know your total tax saving and receive your tax benefit.

Get in touch with our Patent Box experts.