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Corporation Tax Act 2009

Section 1063: Additional deduction in calculating profits of trade

2764.This section allows a small or medium-sized enterprise to claim relief for expenditure on research and development contracted out to it. It is based on paragraph 11 of Schedule 12 to FA 2002.

2765.As with relief under Chapter 2, relief under this Chapter is given as an additional deduction for expenditure that is already deductible in calculating trade profits (see subsections (4) and (6)). The amount of the deduction is increased by 30% (see subsection (7)).

2766.This section makes clear that relief is given only to companies liable to corporation tax. See Change 77 in Annex 1 and the commentary on section 1039 (overview of Part).

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