Corporation Tax Act 2009 (c. 4)

Part 3 U.K. Trading income

Modifications etc. (not altering text)

C1 Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)

[F1 CHAPTER 6A U.K. Trade profits: R&D expenditure credits

Textual Amendments

F1 Pt. 3 Ch. 6A inserted (with effect in accordance with Sch. 15 para. 27 of the amending Act) by Finance Act 2013 (c. 29), Sch. 15 para. 1

Anti-avoidance U.K.

104X Artificially inflated claims for credit U.K.

(1) To the extent that a transaction is attributable to arrangements entered into wholly or mainly for a disqualifying purpose, it is to be disregarded for the purpose of determining for an accounting period R&D expenditure credits to which a company is entitled under this Chapter.

(2) Arrangements are entered into wholly or mainly for a “disqualifying purpose” if their main object, or one of their main objects, is to enable a company to obtain—

(a) an R&D expenditure credit under this Chapter to which it would not otherwise be entitled, or

(b) an R&D expenditure credit under this Chapter of a greater amount than that to which it would otherwise be entitled.

(3) In this section “arrangements” includes any scheme, agreement or understanding, whether or not legally enforceable.]