Patent box and R&D tax credits explained

There have been some recent changes to R&D Tax Credit and Patent Box, how will these affect your business?

Innovation Incentive Schemes explained by Claritas Tax.

Innovation incentives are designed to support innovative and high growth companies.

R&D Tax Credits and Patent Box are two such schemes in the UK. The R&D tax credit scheme has been around for over 20 years and the patent box scheme for about half of that time. The R&D tax credit scheme has been widely used across a range of sectors and sizes of companies, but the patent box is not so widely used among small and medium sized enterprises.

To better understand the recent changes to the schemes in the UK I caught up with Matthew Hodgson, Partner, and Caroline Walton, Head of the Innovation Tax Group, at Claritas Tax, to further understand how the schemes can continue to benefit small and medium enterprises.

We discussed the following topics:

1. High level overview of R&D tax credits and what the Patent box scheme and how they can help small and medium businesses?

2. In your experience (M&A) how important are innovation (R&D and patent box) credits in your assessment of a business

3. Please explain the implications of the recent budget on R&D Tax Credits and patent box Schemes?

4. How long does it take for a business prepare for a sale or investment round and what are the implications for innovations credits?

We have partnered with leading tax experts Claritas Tax so that you can get the best possible business intellectual property and tax advice on innovation incentives, changes and how it can work best for your company.

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