Part 3 Commencement and Transitional and Transitory Provision
Finance Act 2024 (2024 c 3) | Legislation

Part 3 Commencement and Transitional and Transitory Provision

General commencement of Parts 1 and 2

16

(1)     The amendments made by this Schedule, except those made by sub-paragraphs (16) to (18) of paragraph 9, have effect in relation to accounting periods beginning on or after the appointed day.

(2)     In this Part, the “appointed day†is a day appointed by the Treasury in regulations.

Assignments and nominations

17

(1)     The amendment made by paragraph 9(16) does not have effect in relation to—

(a)     an assignment made before 22 November 2023,

(b)     an agreement made before that date, or

(c)     an assignment made on or after that date to carry out an agreement made before that date.

(2)     The amendment made by paragraph 9(17) has effect only in relation to claims made on or after 1 April 2024.

Avoidance of overlaps and gaps in entitlement during transition

18

(1)     Sub-paragraphs (2) and (3) apply if, but for those sub-paragraphs—

(a)     one company (“company Aâ€) would be entitled to old R&D relief, and

(b)     another company (“company Bâ€) would be entitled to new R&D relief,

in respect of expenditure attributable to the same research

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