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Patent Box
Patent Box
A tax scheme that is intended to incentivise research and development by offering a reduced tax rate for profits derived from a patented invention. Under the UK's Patent Box regime, qualifying profits derived from a patented invention are taxed at a reduced rate of 10% rather than the rate of 25% that is usually experienced. It should be noted that there are various conditions that are required to qualify for tax relief under this regime and specialist tax advice is recommended to determine eligibility.
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