Assuming you understand how enhancement and surrender rates work (if not, check this article), there’s still the tricky question of figuring out which rate to use. Recently, HMRC have changed their rates pretty much every year (and they may well continue). This is due to the government’s decision to improve the return of R&D Tax
Let me start by saying that accountants are great. I used to have the typical view of accountants (“how can anyone be so fascinated by columns of numbers?”), until, one day, I realised the fundamental truth: accountants spend a large part of their time and energy figuring out ways to help you pay less tax.
The Patent Box is a new piece of legislation designed to help innovative, profitable companies to reduce their Corporation Tax, and therefore incentivise them to keep their operations in the UK. This is the other side of the coin addressed by R&D Tax Credits. Whereas Tax Credits focus on helping companies to develop products in