Patent box ― making the patent box election

Produced by Tolley
Patent box ― making the patent box election

The following Owner-Managed Businesses guidance note Produced by Tolley provides comprehensive and up to date tax information covering:

  • Patent box ― making the patent box election
  • Timing
  • Revocation

A patent box election must be made by giving notice to HMRC, which must be in writing. The election must state the first accounting period to which it applies. It has effect for all trades carried on by the company making the election, and applies to all subsequent accounting periods unless revoked.

There is no prescribed format for providing the relevant written notice to HMRC. HMRC confirms in CIRD260100 that a corporation tax computation inclu

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