UK Patent Box - shut to new entrants from June 2016

December 2014

Following the joint statement from the UK and Germany last month (see our blog post here) the Treasury has today issued a statement confirming that the current UK Patent Box regime will close to new entrants by 30 June 2016 and will be abolished by 30 June 2021.  A new type of “patent box” arrangement will follow and is yet to be elaborated upon.

Today’s statement makes assurances that the UK will retain a competitive Patent Box regime, which will now align benefits more closely to R&D activity carried out in the UK.  The Government says is confident that the new regime will continue to incentivise innovation and its commercialisation in the UK. 

But with such a narrowing of scope of the UK’s existing scheme, prudent businesses need to act now or face missing out on the current benefits.  HGF has designed a process to get businesses a granted UK patent as simply as possible to take advantage of the Patent Box tax benefits, which will be even more important if your business is to take advantage of the current more generous regime.  Click through to read about BOX CLEVER TM for fixed-price UK patent protection, designed to maximise your Patent Box benefit.

If you would like further advice on patent box, please contact Matt Dixon or your usual HGF representative or visit our Contact Page to get in touch with your nearest HGF office.