Amount of relief for expenditure on R&D by small or medium-sized enterprises (“SMEs”)
This section has no associated Explanatory Notes
2(1)Chapter 2 (relief for SMEs: cost of R&D incurred by SME) is amended as follows.
(2)In section 1044 (additional deduction in calculating profits of trade), in subsection (8), for “100%” substitute “125%”.
(3)In section 1045 (alternative treatment for pre-trading expenditure: deemed trading loss), in subsection (7), for “200%” substitute “225%”.
(4)In section 1055 (tax credit: meaning of “Chapter 2 surrenderable loss”), in subsection (2)(b), for “200%” substitute “225%”.
(5)In section 1058 (amount of tax credit), in subsection (1)(a), for “12.5%” substitute “11%”.