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Wouldn’t it be great if you could cut your corporation tax bill in half?

If you have a patentable product or process, you may be able to reduce the rate of corporation tax to 10% on some of your profits.  Qualifying companies can claim both R&D tax relief and Patent Box tax relief so the savings could be huge.

You don’t have to own a patent already to make the most of this.  This scheme helps you to reduce your corporation tax rate from 20% down to 10% on profits earned after 1 April 2013 from your patented products, processes and other innovations.  The savings are being phased in over 4 years so the full benefit will not be seen until April 2017 but significant savings could be enjoyed now.

If this is of interest to you, then give Michael Burgess a call on 01782 279615 when you have a moment and he’ll explain how the relief works.


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