GNT 47: Patent Box R&D Fraction – As Applied to Life Sciences

This Guidance Note summaries FTI’s preliminary discussions with HMRC, following the responses we collated on the application on the new tracking rules required for the Patent Box.

It sets out practical steps for companies needing to assess what level of record keeping is required. FTI have also prepared a template workbook, embedding the principles of this Guidance Note which can be forwarded upon request.

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