This free seminar is suitable for any organisations that develop new products and patents to ensure that they can benefit from the significant tax advantages on offer. Many of Broomfield & Alexander’s own clients were not aware that their business activities actually constitute R&D and so were missing out on the financial benefits that claiming could bring.

Click here to sign up for the Swansea seminar, or email Liz.Owen@broomfield.co.uk

Patent Box – 10% corporate tax rate from April 2013 

New rules on a lower tax rate for profits derived from certain intellectual property will take effect from April 2013. These new rules, known as the Patent Box, are intended to increase the UK’s competitiveness, stimulate innovation and encourage investment in the UK by introducing a 10% corporate tax rate for qualifying profits.

Broomfield & Alexander, in conjunction with patent attorneys UDL, are running short breakfast seminars in Cardiff & Swansea to take you through the detail of the new legislation and what it could mean for you. This will cover:

• A summary of the new Patent Box regime rules, and the potential financial benefits that could be derived;

• The range of scenarios where patents can be obtained and usefully employed;

• How you might structure your company, research and development activities, intellectual property and earnings to maximise these advantageous terms; and

• Why companies need to act now to maximise their benefit of the new regime.

You may never have considered patenting your products or technology – or using your patents as a source of income. This development presents an important opportunity to reconsider your approach to product development and patents to ensure that you can benefit from the significant tax advantages on offer. At the same time you could enhance the overall value of your company through your IP portfolio.

Research & Development Tax Relief – Recent amendments to the schemes

Companies have for many years been able to derive significant financial benefits for expenditure incurred on qualifying Research & Development (“R&D”) activities. Following a recent consultation, and other important changes, the schemes have become even more generous.

For example, companies may now be able to claim tax relief equivalent to 225% of the amount it spends. Therefore, a company that spends £100,000 on R&D may not only claim tax relief for the amount it has spent but also a notional amount of £125,000 as well, potentially reducing its tax liability by an additional £30,000.

We will summarise the rules of the R&D schemes, focusing on these recent changes and why many companies fail to claim their full entitlement.