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A new era for the UK patent box

All companies claiming patent box relief are subject to the new nexus regime from 1 July 2021. Sarah Lord and Andy Jacott (Deloitte) explain how it works.

Introduction to the UK patent box regime

The UK patent box regime was originally introduced in 2013. It provides for a corporation tax rate of 10% on profits derived from the exploitation of qualifying patents. The stated aim of the patent box regime is to provide additional incentive for companies to:

  • increase the level of patenting of IP developed in the UK and ensure that new and existing patents are further developed and commercialised in the UK;
  • manufacture and sell those innovative products and services from the UK; and
  • locate the high-value jobs associated with the development manufacture and exploitation of patents in the UK.

Broadly a company qualifies for the UK patent box regime if:

  • it legally owns or...

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