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Capital Allowances Act 2001

Section 437: Research and development allowances

1515.This section is based on section 139(1)(a) of CAA 1990.

1516.Subsection (1) provides that qualifying expenditure on R&D is needed before allowances can be made.

1517.Subsection (2) gives the extended meaning of “research and development” in this Part to include oil and gas exploration and appraisal.

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