Part 6

Research and development allowances
Chapter 5

Supplementary provisions

Giving effect to allowances and charges
450
1
An allowance or charge to which a person is entitled or liable under this Part for a chargeable period is to be given effect in calculating the profits of the relevant trade, by treating—
a
the allowance as an expense of the trade, and
b
the charge as a receipt of the trade.
2
This section is subject to section 6E (giving effect to allowances and charges:
NI
rate activity cases).
S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7
S. 450(2) inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), Sch. 1 para. 15(3)
S. 450 renumbered as s. 450(1) (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), Sch. 1 para. 15(2)