1103Entitlement to and payment of tax creditU.K.
(1)A company is entitled to an R&D tax credit for an accounting period if—
(a)it is a small or medium-sized enterprise in the period, and
(b)it has a Chapter 7 surrenderable loss in the period (see section 1104).
(2)For a company to obtain an R&D tax credit in respect of all or part of the Chapter 7 surrenderable loss it must make a claim.
See section 1106 (which prevents a company from making a claim if it is not a going concern).
(3)The amount of an R&D tax credit to which the company is entitled is determined in accordance with section 1107.
(4)If a company makes a claim for an R&D tax credit to which it is entitled for an accounting period, an officer of Revenue and Customs must pay to the company the amount of the credit.
This is subject to section 1109.
(5)This section is subject to section 1113 (cap on R&D aid in relation to a particular research and development project).
(6)See also section 1111, which restricts the carry forward of losses where a company claims an R&D tax credit.