Patent Box: Ten Practical Steps Chemicals Businesses Can Take to Maximise the Benefits

    August 2012

    The UK government’s recently introduced Finance Act 2012 seeks to incentivise investment in innovation in the UK by providing for a lower rate of corporation tax on certain types of profits earned by companies, subject to the UK tax net. Under the new scheme, known as Patent Box, profits earned worldwide from the commercialisation of patented inventions will be subject to a much lower tax rate – ultimately 10% rather than the UK’s headline corporation tax rate of 22% that would otherwise then apply.

    Squire Sanders lawyers have prepared the attached overview of the scheme, which also outlines ten practical steps that companies can take to maximise the benefits they get from it.

    For further information about the scheme please contact the Squire Sanders lawyers with whom you usually work.