The number of businesses claiming patent box relief in the UK’s ‘golden triangle’ region was less than 13% of the annual total of newly granted patents in the area according to official figures released following a freedom of information request from ForrestBrown.
The data reveals that 240 businesses in the region – which spans London Cambridge and Oxford – claimed patent box relief in 2020-21. Yet there were 2 318 patents granted in 2022 and 1 922 more recently in 2023.
Angela Banerjee associate director at ForrestBrown said: ‘The golden triangle is a true powerhouse for life sciences home to companies creating groundbreaking patented innovations – whether that’s drug formulations delivery methods medical devices or new technologies. Many of these businesses may be eligible for significant tax reductions through patent box relief ...
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