Patent Box
The Patent Box is a tax relief scheme offered by the UK government to encourage companies to commercialise their innovations by reducing the rate of corporation tax paid on profits earned from patented inventions.
Under this scheme, companies can apply to have their profits earned from qualifying patents taxed at a lower rate of 10% rather than the standard corporation tax rate.
Our Patent Box Services
At Growth Hive UK, we understand the value of innovation and intellectual property. That’s why we’re here to help you make the most of your intellectual assets through this scheme. Our team of experts is dedicated to providing comprehensive services to assist you with your claim, ensuring you maximise the benefits available to your business.
What is the Patent Box scheme?
This is a government-backed incentive designed to encourage innovation by providing tax relief to companies that earn income from patented inventions. If your company holds patented technologies, products, or processes, you may be eligible for significant tax savings. Our services are tailored to help you navigate the complexities of this scheme and optimise your tax position.
Our Patent Box Services
Assessment and Eligibility: We begin by assessing your company’s eligibility for the scheme. Our experts will carefully review your patented assets and financial data to determine your potential benefits.
Patent Portfolio Analysis: Our team will analyse your patent portfolio to ensure that you are maximising your claims for eligible assets. We can also assist in identifying areas where further patents may be beneficial.
Financial Calculation: Calculating the tax relief and benefits you are entitled to under the Patent Box scheme can be intricate. We handle all the necessary financial calculations and provide you with a clear understanding of your potential tax savings.
Documentation and Compliance: We will guide you through the process of documenting your Patent Box claim, ensuring compliance with HMRC (Her Majesty’s Revenue and Customs) requirements, and assisting with any audits or inquiries.
Strategic Advice: Our team offers strategic advice on how to integrate your claims into your overall business strategy. We can help you make informed decisions on your intellectual property, licensing, and innovation efforts.
Continuous Support: Our commitment to your success doesn’t end with the initial claim. We provide ongoing support to ensure you continue to reap the benefits of the scheme as your business evolves.
Why Choose Growth Hive UK for Your Patent Box Claim?
Expertise: Our team comprises professionals with extensive experience in tax, intellectual property, and business strategy, making us your trusted partner in Patent Box claims.
Customised Solutions: We tailor our services to your specific business needs, ensuring you get the most out of the scheme.
Transparent Pricing: We offer competitive and transparent pricing, so you always know the value you’re receiving.
