UK tax help
Search
Search Corporate Tax (ONESOURCE) Support Help and Support.

This article applies to:

  • Product: ONESOURCE Corporate Tax

Patent box

Use the
Patent box
 to review each trade's profits, calculate the FA2016 deduction and R&D fraction, then aggregate relief and group claims across sheets.
The
Patent box
 is designed to analyse tax relevant information related to the
Patent box
 regime. It implements rules introduced to reduce the tax paid on profits from patents and intellectual property. The aim is to calculate how much of the company's profit comes from patents and innovation schemes, so that it qualifies for the reduced tax rate.
While the
Patent box
 provisions also apply to groups of companies, the group calculation is based on data calculated at company level.
The
Patent box
 provides the following 4 sheets:
  • Patent box relief:
     Aggregate eligible profits or losses, set-off amounts, and group relief claims/surrenders for all trades.
  • Patent box - FA 2016 IP:
     Calculate deduction, amount available for group offset, and the carry-forward position according to FA2016 rules.
    • This sheet is optional and can be developed for every trade.
  • Relevant IP income sub-streams:
     Calculate IP sub-stream profit or loss, which is the starting point of the calculation on the
    Patent box – FA 2016 IP
     sheet.
    • This sheet is developed automatically together with the
      Patent box – FA 2016 IP
       sheet.
  • Expenditure for R&D fraction:
     Track cumulative expenditure per IP asset, which feeds into the R&D fraction.
    • This sheet is optional and can be developed for every
      Relevant IP income sub-streams
       sheet in the calculation.