If your company is liable to pay Corporation Tax, the Patent Box enables you to apply to reduce your Corporation Tax in relation to profits from patented inventions. For eligible profits, a lower Corporation Tax rate of 10% will be applied (under current terms 10 January 2023).
There are a number of qualifying criteria to meet under the Patent Box scheme, in particular owning a UK grant patent, or exclusively licensing a UK patent. More details of the Patent Box and qualifying criteria can be found on the government website – https://www.gov.uk/guidance/corporation-tax-the-patent-box
If you would like to know if you may be eligible to benefit from tax relief under the Patent Box scheme please contact us.