OECD agreement on Patent Box still outstanding, what can you do now?

By Martin Hodgson and Angela Browning

As part of the OECD’s recommendations for BEPS the decision regarding Patent Box has yet to be agreed.

The scheme, designed to support innovation in the UK, came into effect last year. Companies are entitled to a lower rate of tax on income generated via patented technology. Companies considering restructuring patent box related IP or putting in place or changing contract R&D arrangements could be impacted by the OECD proposals. 

Whilst the OECD and the G20 continue to discuss the future of Patent Box, companies can still benefit under the current scheme in the short term e.g. 2013-2016.

If you think you have patents and may qualify for the scheme, please get in touch. It is not clear what will be the outcome from decisions and we don’t want you to miss out.