UK HMRC has published a research and analysis report assessing the impact of the Patent Box in the UK.
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The Patent Box is a tax relief designed to encourage companies to retain and commercialise intellectual property (IP) in the UK. It allows companies to apply a lower rate of Corporation Tax to profits earned from its patented (and similarly protected) inventions. Companies must elect into the Patent Box to apply the lower rate of Corporation Tax, which is 10%. This relief wa…