Removal of limit on amount of tax credit based on PAYE and NIC liabilities
This section has no associated Explanatory Notes
15(1)Chapter 2 (relief for SMEs: cost of R&D incurred by SME) is amended as follows.
(2)In section 1058 (amount of tax credit), in subsection (1), omit paragraph (b) (and the “or” before it).
(3)Omit section 1059 (total amount of company’s PAYE and NIC liabilities).