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This article applies to:

  • Product: ONESOURCE Corporate Tax

Complete the Patent box sheets

Complete the
Relevant IP income sub-streams
 and
Expenditure for R&D fraction
 sheets first, then review the
Patent box relief
 and
FA 2016 IP
 sheets, adjusting figures as needed.
Refer to the following guidance to complete the
Patent box
 sheets:

Patent box
 relief

  • This sheet is automated. It shows relevant IP profit or loss amounts calculated in all
    Patent box – FA 2016 IP
     sheets for all inserted businesses.
  • It shows the amounts of group relief claimed and surrendered on a group calculation level.
  • It calculates eligibility for, and the maximum amount of, the
    Patent box small claims amount
    .
  • A subsection is added for each inserted accounting period, so all calculations remain specific to that period.

Patent box
 - FA 2016 IP

  • This sheet uses figures calculated on the
    Relevant IP income sub-streams
     and
    Expenditure for R&D fraction
    sheets.
  • It uses data from the
    Patent Box relief
     sheet to calculate the deduction, the amount available for group offset, and the carry-forward position.
  • A column is added for each inserted
    Accounting period
    .
  • Manually adjust automatically calculated figures.
note
A warning shows on this sheet if the
Patent box relief
sheet isn't developed.

Relevant IP income sub-streams

  • Complete this sheet manually, or import data into it.
  • It calculates relevant IP profit or loss broken down to individual IP sub-streams.
  • Relevant IP profits or losses are linked to the
    Patent box – FA 2016 IP
    sheet.
  • You can also use the small claims calculated on the
    Patent box relief
    sheet.
  • Complete the
    R&D fraction
     section to calculate the R&D fraction.
    note
    Alternatively, you can complete the
    Expenditure for R&D fraction
    sheet. New rows will be added for every
    Accounting period
    inserted into calculation.

Expenditure for R&D fraction

  • This sheet tracks cumulative expenditure per IP asset.
  • It transfers the carried-forward figures to the
    Relevant IP income sub-streams
     sheet to the R&D fraction section, where the fraction calculation takes place.
  • The carried-forward amounts will be the brought-forward amounts of the following period.