Part 6

Research and development allowances
Chapter 1

Introduction

Research and development allowances
437
1
Allowances are available under this Part if a person incurs qualifying expenditure on research and development.
2
In this Part “research and development”—
a
has the meaning given by section 837A of ICTA (activities falling to be treated as research and development under normal accounting practice, subject to regulations), and
b
includes oil and gas exploration and appraisal.