HMRC’s latest statistics reveal that 1,025 companies claimed £942.5m in Patent Box relief in 2016/17. Three quarters of those claims were made by SMEs however in terms of claims' value, large companies claimed 96% of the relief.
The Patent Box regime is a Corporation Tax relief which gives a reduced rate of tax (10%) on income deriving from the commercial exploitation of patents. Like most modern tax reliefs, it is a notoriously complex relief to claim.
Highlights of HMRC statistics
- Over 50% of claims in number and value were made by companies in the Manufacturing sector. 215 ‘Wholesale & Retail Trade, Repairs’ was the second most common sector.
- The South East had the highest number of companies claiming relief under the Patent Box in 2015-16 (200) followed by the East of England (140). T
- The smallest number of claimant companies was in the North East (30).
- Companies in London claimed the most relief under the Patent Box (£383.5 million, or 50.8% of the total).
Useful guides
External links
