Chapter 6: Chapters 2 to 5: further provision
Section 1081: Insurance companies treated as large companies
2820.This section provides that a company which carries on life assurance business in an accounting period and which qualifies as a small or medium-sized enterprise (see section 1119) is to be treated as a large company (see section 1122) for the purposes of Chapters 2 to 5. It is based on paragraph 12 of Schedule 12 to FA 2002.
Section 1082: R&D expenditure of group companies
2821.This section deals with the case where the research and development in a group of companies is undertaken by particular members of the group on behalf of other group companies. It is based on paragraph 14 of Schedule 12 to FA 2002.
2822.Subsection (3) extends the scope of the provisions to cover work contracted out to third parties.
Section 1083: Refunds of expenditure treated as income chargeable to tax
2823.This section applies the charge to tax under Chapter 2 of Part 3 if the company gets a refund of expenditure for which it has received certain of the reliefs given by this Part. It is based on paragraph 15 of Schedule 12 to FA 2002.
Section 1084: Artificially inflated claims for relief or tax credit
2824.This section denies relief for transactions that are intended to increase artificially the amount of relief or R&D tax credit. It is based on paragraph 21 of Schedule 20 to FA 2000 and paragraph 16 of Schedule 12 to FA 2002.