The Patent Box Regime - All You Need to Know

Introduction

The UK’s patent box regime provides a form of tax relief for companies that create and exploit relevant IP (generally, but not exclusively, patents).

This seminar will offer a detailed look at the UK’s patent box regime as it applies to accounting periods commencing on or after 1 July 2021.

Expert speaker David O’Keefe will guide you through the various requirements of the relief, from what is a qualifying company and what is qualifying IP to what types of income are included within the calculations and how the relief is actually given in practice.

What You Will Learn

This course will cover the following:

• What is the Patent Box regime
• What is the relief
• How is it given
• What is a Qualifying Company
• Who can claim the relief
• Elections
• Ownership of qualifying IP
• What is an exclusive licence
• Conditions where the company is a member of a group
• What is qualifying IP
• UK, EU and other patents
• Other types of IP
• Development condition
• Calculating the relief
• Calculation of Relevant IP Income
• Routine return calculation
• Marketing Asset Return
• Small Claims Treatment elections
• The R&D Fraction
• Recording and tracking R&D
• The computational adjustment
• Profits arising from pre-grant patents
• IP Losses
• Pitfalls