UK Corporation Tax Relief and Patents.

UK Chancellor Rishi Sunak announced as part of his March 2021 budget that, from April 2023, Corporation Tax of 25% will be payable on company profits in excess of £250,000. Corporation Tax of 19% will remain for companies with profits of £50,000 or less. 

A silver lining in this: the UK government’s ‘Patent Box’ scheme appears untouched by the latest budget, meaning profits earned from the sale of patented products will be taxed at the reduced rate of 10%.

This scheme is worthy of consideration for UK-based businesses large and small, providing a strong financial incentive to obtain patent protection for technological innovations.

If you require any further information on the above, please contact us.


Latest News

FRKelly @FRKellyIP 1 week ago

Accountant | FRKelly #jobs #frkelly

FRKelly @FRKellyIP 1 week ago

Happy Easter for 2021 to all of our friends, clients and contacts celebrating it - from all at FRKelly.…

FRKelly @FRKellyIP 2 weeks ago

Justin Woods explores the recent decision around computer-implemented simulations and how the decision provides use…

Please upgrade your browser. This website is not compatible with Internet Explorer.