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Corporation Tax Act 2009

Section 1074: Additional deduction in calculating profits of trade

2801.This section allows a large company to claim an additional deduction for qualifying expenditure on research and development. It is based on paragraph 11 of Schedule 12 to FA 2002.

2802.As with the reliefs given to small or medium-sized enterprises, relief under Chapter 5 is given as an additional deduction for expenditure that is already deductible in calculating trade profits (see subsection (6)). The amount of the deduction is increased by 30% (see subsection (7)).

2803.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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