53 Treatment of expenditure on research and development
Finance Act 2004 (2004 c 12) | Legislation

53  Treatment of expenditure on research and development

(1)     Expenditure by a company on research and development, if not of a capital nature, is not prevented from being regarded for tax purposes as deductible in computing profits by reason of the fact that for accounting purposes it is brought into account by the company in determining the value of an intangible asset.

(2)     Subsection (1) applies, in particular, for the purposes of—

section

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