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Capital Allowances Act 2001


1512.This Chapter introduces R&D allowances. They are given to traders who incur qualifying expenditure. Chapter 2 defines “qualifying expenditure” and contains the condition that the person must be a trader.

1513.Section 437 requires qualifying expenditure on R&D in order for allowances to be given and defines “research and development”.

1514.Section 438 gives the meaning of “expenditure on research and development”. That meaning excludes, with minor exceptions, expenditure on dwellings.

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