Posted: 02/10/13 by Urquhart-Dykes & Lord LLP
Leading patent and trade mark attorneys Urquhart-Dykes & Lord(UDL) in Milton Keynes is urging firms to ensure they get the most out of the Government’s new Patent Box scheme.
The Patent Box is being phased in over a five year period and enables companies to apply a lower rate of Corporation Tax to profits earned after 1 April 2013 from its patented inventions and certain other innovations.
The relief is being phased in from the start of this financial year and the lower rate of Corporation Tax to be applied will be 10%.
Patent Attorney Simon Raynor, at UDL, said: “To UK companies who box clever, the Patent Box can mean money for nothing. But they need to explore opportunities to patent their products and processes. And they need to talk to their tax adviser about tax planning.
“Now is the time to review your Intellectual Property, to see how you can benefit from the tax breaks that are available to companies holding patents.”
UDL is one of the UK’s leading firms of Patent and Trade Mark Attorneys, specialist in all aspects of intellectual property law.
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