Engineering & Manufacturing
IT & Software
Food & Drink Manufacturing
Condition A – At any time, during the accounting period, hold any qualifying IP rights or an exclusive licence in respect of qualifying IP rights.
Condition B – At any time, during the accounting period, have held any qualifying IP rights or an exclusive licence in respect of qualifying IP rights and has received income.
Who can apply for the scheme?
Any company can elect to pay the reduced rate of corporation tax on profits due, if it is making a profit from a qualifying patent. The company has to have been involved in the development of patented item or the development of a product incorporating the patented item. It also has to have been developed in the UK. The patent can have been patented within National or European jurisdiction.