A video discussing the Patent Box, a tax incentive designed to encourage innovation, has been placed on YouTube by HM Revenue and Customs (HMRC) to give businesses advice on the subject.

The department will be phasing in the new tax relief from April 1st next year, giving firms the power to apply for a lower rate of Corporation Tax of ten per cent on profits from certain innovations.

Considering a career in patents? Check out the Graduate Patent Attorney Careers page for more information and the latest graduate jobs.

Interested in tax? Check out the Graduate Tax Careers page for more information and the latest graduate jobs.