About the Course:
Will The Patent Box boost the value of patents throughout the world? One thing is clear.
It is definitely time to start thinking inside The Patent Box. In an attempt to spur innovation and research in the United Kingdom, the British government has promulgated laws governing the Patent Box. The idea is that qualifying profits–those related to patented inventions placed in the Patent Box–will be taxed at rates eventually as low as 10%.
This session provides an overview of the thinking behind The Patent Box as well as an analysis of how the Patent Box compares with similar schemes–in terms of qualifying assets, tax rates and more–throughout Europe.
This course discusses many accounting, taxation, legal and managerial issues associated with companies availing themselves of The Patent Box. Among the issues addressed are:
- What are the qualifying criteria to place patents in The Patent Box?
- Over what period, and at what velocity, will lower taxes be phased in?
- To what extent can non-United Kingdom-based companies benefit from The Patent Box?
- Are exclusively licensed patents includable in The Patent Box?
- Can UK-based companies participate in The Patent Box simply by purchasing patents?
- How can one apply the formulaic and streaming methods of apportionment in calculating income to be taxed at lower rates?
- How is a company to calculate “Relevant IP Income”?
- What is the significance of the term “Qualifying Residual Profit”?
- How should “Marketing Asset Returns” be calculated?
- What are keys to drafting and prosecuting patents with a view to them qualifying to be placed in The Patent Box?
- What are some of the anti-avoidance features associated with The Patent Box?
- What use might patent mapping play as The Patent Box goes into effect?
- What happens if a patent placed in The Patent Box later becomes invalidated?
- Where might the intersection of The Patent Box and transfer pricing issues lie?
- How should trade secrets be managed in light of The Patent Box?
- How should The Patent Box affect the prosecution of your existing patent applications?
- How might products be better marketed, bundled and priced so as to optimize benefit from The Patent Box?
- What should companies be doing right now so as to maximize their benefits from including their patents in The Patent Box?
Special Feature:: Three highly instructive case studies are presented.
Course Leaders: Margaret Savory, Senior Tax Manager, BDO LLP
Margaret is an experienced corporate tax specialist. She has particular expertise in advising entrepreneurial businesses in all areas of their corporate tax affairs. She is the Reading office “champion” for R&D tax matters and the new Patent Box tax regime, having recently published articles on the subject.
Margaret has more than 10 years’ experience in dealing with corporation tax compliance and advisory services and is responsible for a wide portfolio of clients, including those in the technology arena. She has worked for BDO LLP for the last 5 years Margaret has a degree in Natural Sciences from Cambridge University as well as a Masters in Psychology from the University of Sussex. She is both a Chartered Accountant (FCA) and a Chartered Tax Advisor in the UK.
Matthew Cassie, Senior Associate, Gill Jennings & Every LLP
Matthew Cassie is a European Patent Attorney and Chartered Patent Attorney and a Senior Associate of Gill Jennings & Every LLP where he specialises in procuring, defending and attacking patent protection for start-up, SME and blue-chip clients in the telecoms, software and high-tech industries. Matt is also the leading member of GJE’s Patent Box Team, which advises companies on how to maximise their benefit under the UK Patent Box.
Course Length: Approx. 2.0 hours