The average Patent Box claim is worth 10 times the average R&D claim

The latest statistics show the average Patent Box claim is worth 10 times the average R&D claim. So, why are only 1.6% of R&D claimants filing Patent Box claims?

HMRC’s latest Patent Box statistics show projected claims of 1,370 for the tax year to March 2020. This contrasts to R&D claims for the same period of 85,900, showing that only a tiny proportion of R&D claimants are making Patent Box claims.

There appears to be a perception that Patent Box claims are not as valuable as R&D claims. However, the statistics show the average value of a Patent Box claim is just under £900k whereas the average value of an R&D claim is less than £90k.

With Corporation Tax rates rising to 25% in 2023, the value of the Patent Box will be enhanced further still, so there has never been a better time to consider whether Patent Box can apply to your business.

Perhaps the claims are low due to the complexity of the tax legislation, therefore it is advisable to seek advice from a Patent Box specialist.

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