HMRC have published a guide on the newly-introduced Patent Box regime. The regime was given effect by the Finance Act 2012. Under the Patent Box regime, companies with relevant profits from patented inventions and certain other innovations will be subject, upon election, to a reduced corporation tax rate of 10% in respect of that income. The regime takes effect from 1 April 2013.
The guide sets out matters such as:
| - | who is eligible to elect under the regim… |