Part 1 Amendments of CTA 2009
Finance Act 2013 (2013 c 29) | Legislation

SCHEDULE 15 R&D Expenditure Credits

Section 35

Part 1 Amendments of CTA 2009

1

In Part 3 of CTA 2009 (trading income), after Chapter 6 insert—

“Chapter 6A
Trade Profits: R&D Expenditure Credits
Claims for credits
104A R&D expenditure credits

(1)     A company carrying on a trade may make a claim for an amount (an “R&D expenditure creditâ€) to be brought into account as a receipt in calculating the profits of the trade for an accounting period.

(2)     The company is entitled to an R&D expenditure credit for the accounting period if the company has qualifying R&D expenditure which is allowable as a deduction in calculating for corporation tax purposes the profits of the trade for the accounting period.

(3)     In the case of a company that is a small or medium-sized enterprise in the accounting period, the company's “qualifying R&D expenditure†means—

(a)     its qualifying expenditure on sub-contracted R&D (see section 104C),

(b)     its subsidised qualifying expenditure (see section 104F), and

(c)     its capped R&D expenditure (see section 104I).

(4)     In the case of a company that is a large company throughout the accounting period, the company's “qualifying R&D expenditure†means—

(a)     its qualifying expenditure on in-house

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