The total value of claims for tax relief under the UK’s Patent Box regime has increased, but only slightly, according to latest data sets released by HMRC. Whilst this is a positive indicator of investment in innovation, the number of companies making claims is still far lower than it should be, according to European intellectual property firm, Withers & Rogers.
The statistics show that 1,230 companies in the UK claimed £992 million in relief under the Patent Box regime in 2018-19 and these partial figures will be revised upwards as more data for this fiscal year becomes available. HMRC forecasts, based on the pattern of claims seen in previous years, suggest that the total value of claims for 2018-19 will be £1,130 million, up from £1,101 million in 2017-18 – an increase of a mere 2.6%.
https://www.qimtek.co.uk/news/engineering-capacity/tax-relief-goes-begging