Income Tax (Trading and Other Income) Act 2005(c. 5) - Explanatory Notes

Explanatory Notes

Income Tax (Trading and Other Income) Act 2005

2005 CHAPTER 5

24 March 2005

Commentary on Sections

Part 2: Trading income

Chapter 5: Trade profits: rules allowing deductions

Section 87: Expenses of research and development

356. This section gives relief for the cost of research and development undertaken by or on behalf of a trader. It is based on section 82A of ICTA.