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Research and development (R&D) tax credit relief has been available for many years to encourage companies to create intellectual property (IP) within the UK. Patent box tax relief was introduced in April 2013 to encourage those companies to then commercialise their IP within the UK because, although the UK was gaining a reputation for attracting innovation, the numbers of patent applications being made for developed IP was typically lower than in other European countries.
Our article in Businesszone.co.uk (now removed) on patent box tax relief explained what is patentable, what the rules offer and the impact of new rules that require all patent applications to demonstrate a link to the corresponding R&D activity conducted in order to qualify for the tax relief. We also outline three ways to access patent box relief for existing and new applications.
RJP has helped many companies across a wide range of industry sectors to offset the costs of R&D expenditure with R&D tax relief, enabling them to pay either no corporation tax or reduced payments depending on the circumstances. Find out more about how we could help your company to access patent box tax relief and make the most of R&D tax credits by contacting Lesley Stalker.
I wanted to write and express our gratitude for your help and hard work in getting Probate through and settling all the taxes. I am so pleased that we selected RJP, as your professional help and updates throughout this process have been invaluable. If at any time in the future Probate assessment may be needed, you will be our first port of call. Once again, many thanks to the whole team.
Dan Cook, Probate clientI just wanted to drop you a short note to say how grateful I am for the support that RJP has provided over the past 4 weeks while our Financial Controller was away. I struggle to comprehend how much work your staff get through during their weekly visits and they are always a pleasure to have around the office.
I Evans, CFO, MoblicitiJust a quick e-mail from me to thank you for achieving the target for producing the draft accounts – it is very much appreciated and gives a first class impression of your firm. Many thanks.
J Stanfield, Chairman, BBS Actuaries LtdI would like to take this opportunity to thank you very much for the amazing job you have done navigating us through this whole process. My family and I also really appreciate the care and compassion demonstrated by you and your team in every dealing. Our thanks to everyone.
M Goldsmith, Probate ClientRJP provide our company with a complete service which takes the stress and strain away from the day to day running of our accounts! Their understanding of our business and their patience and advice is invaluable.
Outsourcing Client
If you sell a property and incur capital gains tax on the transaction, you will need to file a tax return and also pay any tax that is due within 60 days of completion, or penalties will arise. Need help with your property taxes? Talk to us.