Part 13

... expenditure on research and development
Chapter 9

Supplementary

SMEs and large companies

“Small or medium-sized enterprise”
1119
1
In this Part “small or medium-sized enterprise” means a micro, small or medium-sized enterprise as defined in Commission Recommendation (EC) No 2003/361, but subject to the qualifications in section 1120 (and see sections 1120A and 1120B).
2
The Treasury may by order amend this section or
sections 1120 to
1120B
to substitute a different definition of “small or medium-sized enterprise” for the purposes of this Part.
3
This section is subject to section 1081 (insurance companies to be treated as large companies for purposes of Chapter 2).

Qualifications to section 1119
1120
1
This section contains qualifications to the definition of small or medium-sized enterprise in section 1119.
2
The qualifications are—
Qualification 1
In Article 2(1) of the Annex, the references to 250 persons, 50 million euros and 43 million euros are to be read as references to 500 persons, 100 million euros and 86 millions euros (respectively).
Qualification 2
If each of conditions A to D is met, Article 4(2) of the Annex is to be disregarded in determining whether a company (“C”) is within the definition of small or medium-sized enterprise in section 1119 for an accounting period in which C exceeds the employee limit or the financial limits.
3
Condition A is that C is a micro, small or medium-sized enterprise as defined in the Recommendation (or would be if the Annex were read as set out in qualification 1), disregarding any partner enterprise or linked enterprise.
4
Condition B is that a partner enterprise or linked enterprise to which C is related exceeds the employee limit or both of the financial limits, disregarding the number of employees, the annual turnover and the annual balance sheet totals of C.
5
Condition C is that the number of employees, annual turnover or annual balance sheet total (as the case may be) of the partner enterprise or linked enterprise to which C is related has been taken into account in determining whether C exceeded the employee limit or the financial limits.
6
Condition D is that, taken alone, C satisfies the employee limit and at least one of the financial limits.
6A
This section is subject to
sections 1120A
and
1120B
.
7
In this section and in sections 1120A and 1120B —
a
references to the Recommendation are to the Commission Recommendation mentioned in section 1119(1),
b
references to the Annex are to the Annex to the Recommendation,
c
references to the employee limit are to the limit on the number of employees contained in Article 2(1) of the Annex (read as set out in qualification 1), and
d
references to the financial limits are to the limits on the annual turnover and balance sheet totals contained in Article 2(1) of the Annex (read as set out in qualification 1).

Enterprise treated as an SME where related enterprise becomes large
1120A
1
This section applies, in relation to an accounting period, where the following conditions are met.
2
The first condition is that, for the duration of the accounting period, an enterprise (“
E
”) is related to a partner enterprise or linked enterprise (“
F
”).
3
The second condition is that, at the start of the accounting period, both E and F are small or medium-sized enterprises.
4
The third condition is that, at the end of the accounting period, E is not a small or medium-sized enterprise by reason only that F has, during the accounting period, exceeded the employee limit or either of the financial limits.
5
Both E and F are to be treated as if they were small or medium-sized enterprises for the accounting period.

Enterprise treated as an SME where acquired by an SME
1120B
1
This section applies, in relation to an accounting period, where the following conditions are met.
2
The first condition is that, at the start of the accounting period, an enterprise (“
E
”) was not a small or medium-sized enterprise by reason only that a partner enterprise or linked enterprise to which E was related exceeded the employee limit or either of the financial limits.
3
The second condition is that, during the accounting period, control of E was acquired by a company that, at the time of the acquisition, was a small or medium-sized enterprise.
4
E is to be treated as if it were a small or medium-sized enterprise for the accounting period.
5
In
subsection (3)
“
control
” has the same meaning as in section 1124 of CTA 2010.

“Larger SME”
1121
References in this Part to a “larger SME” are to a company which is a small or medium-sized enterprise by virtue of qualification 1 in section 1120.

“Large company”
1122
In this Part “large company” means a company that is not a small or medium-sized enterprise.

Staffing costs

“Staffing costs”
1123
1
For the purposes of this Part the staffing costs of a company are amounts to which subsection (2), (3), (4), (5) or (7) applies.
2
This subsection applies to an amount paid by the company to a director or an employee of the company which—
a
is earnings consisting of money, and
b
is paid because of the director's or employee's employment.
3
This subsection applies to an amount paid by the company to a director or an employee of the company, other than an amount paid in respect of benefits in kind, if—
a
the amount is paid in respect of expenses paid by the director or employee, and
b
the amount is paid because of the director's or employee's employment.
4
This subsection applies to secondary Class 1 national insurance contributions paid by the company.
5
This subsection applies to compulsory contributions paid by the company in respect of benefits for directors or employees of the company under the social security legislation of an EEA State ... or Switzerland.
6
In subsection (5) “social security legislation” means legislation relating to any of the branches of social security listed in Article 3(1) of Regulation (EC) No. 883/2004 of the European Parliament and of the Council on the co-ordination of social security systems as it had effect in the UK immediately before IP completion day.
7
This subsection applies to contributions paid by the company to a pension fund operated for the benefit of directors or employees of the company.
8
In subsection (7) “pension fund” means a scheme, fund or other arrangement established and maintained (whether in the United Kingdom or elsewhere) for the purpose of providing pension benefits.
For this purpose “scheme” includes a deed, agreement or series of agreements.
9
In subsection (8) “pension benefits” means pensions, retirement annuities, allowances, lump sums, gratuities or other superannuation benefits (with or without subsidiary benefits).

Staffing costs: attributable expenditure
1124
1
This section applies for the purposes of this Part to identify when staffing costs are attributable to relevant research and development.
2
The costs which are so attributable are those paid to, or in respect of, directors or employees who are directly and actively engaged in relevant research and development.
3
Subsection (4) applies if a director or employee is partly engaged directly and actively in relevant research and development.
4
The appropriate proportion of the staffing costs relating to the director or employee is treated as attributable to relevant research and development.
5
Subsection (6) applies if persons provide services, such as secretarial or administrative services, in support of activities carried on by others.
6
Those persons are not, as a result of providing those services, to be treated as themselves directly and actively engaged in those activities.

Software , data licences, cloud computing services or consumable items

“Software , data licences, cloud computing services or consumable items”
1125
1
For the purposes of this Part expenditure on software , data licences, cloud computing services or consumable items means an amount paid by the company in respect of—
a
computer software, ...
aa
data licences,
ab
cloud computing services, or
b
consumable or transformable materials.
1A
For the purposes of subsection (1)
(aa)
a data licence is a licence to access and use a collection of digital data.
1B
For the purposes of subsection (1)
(ab)
cloud computing services include the provision of access to, and maintenance of, remote—
a
data storage and hardware facilities;
b
operating systems and software platforms.
2
For the purposes of subsection (1)(b) consumable or transformable materials include water, fuel and power.

Software , data licences, cloud computing services or consumable items: attributable expenditure
1126
1
This section applies for the purposes of this Part to identify when expenditure on software , data licences, cloud computing services or consumable items is attributable to relevant research and development.
2
Expenditure on software , data licences, cloud computing services or consumable items is so attributable if the software , data licences, cloud computing services or consumable items are employed directly in relevant research and development.
3
Subsection (4) applies if software , data licences, cloud computing services or consumable items are partly employed directly in relevant research and development.
4
The appropriate proportion of the expenditure on the software , data licences, cloud computing services or consumable items is treated as attributable to relevant research and development.
5
Subsection (6) applies if software , data licences, cloud computing services or consumable items are employed in the provision of services, such as secretarial or administrative services, in support of other activities.
6
The software , data licences, cloud computing services or consumable items are not, as a result of their employment in the provision of those services, to be treated as themselves directly employed in those activities.
7
This section is subject to sections 1126A and 1126B.

Attributable expenditure: special rules for data and cloud computing
1126ZA
1
Expenditure on data licences or cloud computing services is not to be treated as attributable to relevant research and development if, in connection with the grant of a licence or the provision of a service, a relevant person obtains—
a
a right to sell data in respect of which the licence is granted or the service is provided (as the case may be);
b
a right to publish, share or otherwise communicate data in respect of which the licence is granted or the service is provided (as the case may be) to a third party, other than for the purposes of communications reasonably necessary for, or incidental to, the purposes of the relevant research and development.
2
Expenditure on data licences or cloud computing services is not to be treated as attributable to relevant research and development so far as it is attributable to a qualifying indirect activity.
3
In this section—
- “
qualifying indirect activity
” means an activity mentioned in paragraph 31 of the Guidelines on the Meaning of Research and Development for Tax Purposes issued on 7 March 2023 and as amended from time to time;
- “
relevant person
” has the meaning given in section 1126A(10).

Attributable expenditure: special rules for consumable items
1126A
1
Expenditure on consumable items is not to be treated as attributable to relevant research and development if—
a
the relevant research and development relates to an item that is produced in the course of the research and development,
b
the consumable items form part of the item produced,
c
the item produced is transferred by a relevant person for consideration in money or money's worth, and
d
the transfer is made in the ordinary course of the relevant person's business.
2
Expenditure on consumable items is not to be treated as attributable to relevant research and development if—
a
the relevant research and development relates to a process of producing an item,
b
the consumable items form part of an item produced in the course of that research and development,
c
the item produced is transferred by a relevant person for consideration in money or money's worth, and
d
the transfer is made in the ordinary course of the relevant person's business.
3
If—
a
the item produced as described in subsection (1) or (2) may be divided, and
b
only a proportion (“the appropriate proportion”) of that item is transferred by a relevant person as described in subsection (1)(c) and (d) or (2)(c) and (d),
the appropriate proportion of the expenditure on the consumable items is not to be treated as attributable to the relevant research and development.
4
If—
a
a number of items are produced in the course of the relevant research and development described in subsection (2), and
b
only a proportion (“the appropriate proportion”) of those items is transferred by a relevant person as described in subsection (2)(c) and (d),
the appropriate proportion of the expenditure on the consumable items is not to be treated as attributable to the relevant research and development.
5
A reference in this section to producing an item includes a reference to preparing an item for transfer.
6
For the purposes of this section a consumable item forms part of an item produced if—
a
it is incorporated into the item produced, or
b
it is turned into, or it and other materials are turned into, the item produced or a part of the item produced.
7
A reference in this section to the transfer of an item is a reference to—
a
the transfer of ownership of an item to another person (whether by sale or otherwise), or
b
the transfer of possession of an item to another person (whether by letting on hire or otherwise),
and a reference to the transfer of an item includes, where the item is incorporated into another item, the transfer of that other item.
8
For the purposes of this section the provision of information obtained in testing an item is not to be regarded as consideration for the transfer of that item.
9
For the purposes of this section a transfer of an item produced in the course of research and development is not to be regarded as a transfer in the ordinary course of business if the item being transferred is waste.
10
In this section—
- “
item
” includes any substance;
- “
relevant person
”, in relation to relevant research and development, means—
  1. the company that incurs the cost of the research and development, whether it is undertaken by itself or contracted out,
  2. the company to which the research and development is contracted out, whether it is undertaken by itself or contracted out,
  3. the person (other than a company) who contracts out the research and development to a company and incurs the cost of the research and development,
  4. the person (other than a company) to whom the research and development is contracted out, or
  5. a person who is connected to a company or person described in paragraph (a), (b), (c) or (d).

Attributable expenditure: further provision
1126B
1
The Treasury may by regulations make provision for the purpose of identifying when expenditure on
data licences, cloud computing services or
consumable items is attributable to relevant research and development, including provision modifying the effect of section 1126
, 1126ZA
or 1126A.
2
Regulations under this section may include provision about—
a
the circumstances in which expenditure on
data licences, cloud computing services or
consumable items employed directly in relevant research and development is, or is not, to be treated as attributable to that relevant research and development;
b
the circumstances in which
data licences, cloud computing services or
consumable items are, or are not, to be treated as employed directly in relevant research and development.
3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
Regulations under this section may amend—
a
section 1126;
aa
section 1126ZA;
b
section 1126A;
c
any other provision of this Act, if that is appropriate in consequence of provision made under paragraph (a) or (b).
5
Regulations under this section may make provision that has effect in relation to expenditure incurred before the making of the regulations, provided that it does not increase any person's liability to tax.

Qualifying expenditure on externally provided workers

“Qualifying expenditure on externally provided workers”
1127
1
For the purposes of this Part a company incurs expenditure on externally provided workers if—
a
it makes a payment (a “staff provision payment”) to another person (the “staff provider”), and
b
the payment is in respect of the supply to the company, by or through the staff provider, of the services of any externally provided workers.
2
The company's qualifying expenditure on externally provided workers is determined in accordance with section 1129 or 1131.
3
In sections 1128 to 1131 references to “staff provider” and “staff provision payment” are to be read in accordance with subsection (1).

“Externally provided worker”
1128
1
For the purposes of this Part a person is an “externally provided worker” in relation to a company if each of conditions A to G is met.
2
Condition A is that the worker is an individual.
3
Condition B is that the worker is not a director or employee of the company.
4
Condition C is that the worker personally provides, or is under an obligation personally to provide, services to the company.
5
Condition D is that the worker is subject to (or to the right of) supervision, direction or control by the company as to the manner in which those services are provided.
6
Condition E is that the worker's services are supplied to the company through a staff provider (whether or not the worker is a director or employee of the staff provider or any other person).
7
Condition F is that the worker provides, or is under an obligation to provide, those services personally to the company under the terms of a contract between the worker and a person other than the company (the “staff controller”).
8
Condition G is that the provision of those services does not constitute the carrying on of activities contracted out by the company.
9
In sections 1129 to
1132A
references to “staff controller” are to be read in accordance with subsection (7).

Qualifying expenditure on externally provided workers: connected persons
1129
1
This section applies if—
a
a company makes a staff provision payment,
b
the company, the staff provider and (if different) the staff controller (or staff controllers) are all connected, and
c
in accordance with generally accepted accounting practice—
i
the whole of the staff provision payment has been brought into account in determining the staff provider's profit or loss for a relevant period, and
ii
all of the relevant expenditure of each staff controller has been brought into account in determining the staff controller's profit or loss for a relevant period.
2
The company's qualifying expenditure on externally provided workers is—
a
the entire staff provision payment, or
b
if less, an amount equal to the aggregate of the relevant expenditure of each staff controller.
3
“Relevant expenditure”, in relation to a staff controller, means expenditure that—
a
is incurred by the staff controller in providing for the company the externally provided workers to whom the staff provision payment relates,
b
is not of a capital nature, ...
c
is incurred on staffing costs or agency workers' remuneration, and
d
is attributable to qualifying earnings of externally provided workers.
4
“Relevant period”, in relation to a person, means a period—
a
for which accounts are drawn up for the person, and
b
that ends not more than 12 months after the end of the company's period of account in which the staff provision payment is, in accordance with generally accepted accounting practice, brought into account in determining the company's profit or loss.
4A
In subsection (2) the reference to the staff provision payment is to that payment before any deduction is made from the payment under—
a
section 61S of ITEPA 2003,
b
regulation 19 of the Social Security Contributions (Intermediaries) Regulations 2000, or
c
regulation 19 of the Social Security Contributions (Intermediaries) (Northern Ireland) Regulations 2000.
5
In section 1123 (meaning of “staffing costs”), which applies for the purpose of determining whether the expenditure of a staff controller meets the requirements of subsection (3)(c), references to a company are to be read as references to a staff controller.
6
“Agency workers' remuneration”, in the case of any person who is an externally provided worker in relation to the company, means remuneration that—
a
is receivable by the worker under or in consequence of the contract mentioned in section 1128(7), but
b
does not constitute employment income of the worker apart from Chapter 7 of Part 2 of ITEPA 2003 (application of provisions to agency workers).
7
Any apportionment of expenditure of the company or a staff controller necessary for the purposes of this section is to be made on a just and reasonable basis.

Election for connected persons treatment
1130
1
If—
a
a company makes a staff provision payment, and
b
the company, the staff provider and (if different) the staff controller (or staff controllers) are not all connected,
they may jointly elect that section 1129 is to apply to them as if they were all connected.
2
Any such election has effect in relation to all staff provision payments paid under the same contract or other arrangement.
3
The election must be made by notice in writing to an officer of Revenue and Customs.
4
The notice must be given before the end of the period of two years beginning immediately after the end of the company's accounting period in which the contract or other arrangement is entered into.
5
An election under this section is irrevocable.

Qualifying expenditure on externally provided workers: other cases
1131
1
This section applies if—
a
a company makes a staff provision payment,
b
the company, the staff provider and (if different) the staff controller (or staff controllers) are not all connected, and
c
no election is made under section 1130.
2
The company's qualifying expenditure on externally provided workers is 65% of so much of the staff provision payment as is attributable to qualifying earnings of externally provided workers.
3
In subsection (2) the reference to the staff provision payment is to that payment before any deduction is made from the payment under—
a
section 61S of ITEPA 2003,
b
regulation 19 of the Social Security Contributions (Intermediaries) Regulations 2000, or
c
regulation 19 of the Social Security Contributions (Intermediaries) (Northern Ireland) Regulations 2000.
4
Any apportionment of expenditure of the company necessary for the purposes of this section is to be made on a just and reasonable basis.

Sections 1129 and 1131: secondary Class 1 NICS paid by company
1131A
1
This section applies if—
a
a company makes a staff provision payment,
b
the company is treated as making a payment of deemed direct earnings the amount of which is calculated by reference to the amount of the staff provision payment, and
c
the company pays a secondary Class 1 national insurance contribution in respect of the payment of deemed direct earnings.
2
In determining the company's qualifying expenditure on externally provided workers in accordance with section 1129(2) or section 1131(2) the amount of the staff payment provision is to be treated as increased by the amount of the contribution.
3
In determining the company's qualifying expenditure on externally provided workers in accordance with section 1129(2) the aggregate of the relevant expenditure of each staff controller is to be treated as increased by the amount of the contribution.
4
But subsection (2) does not apply to the extent that the expenditure incurred by the company in paying the contribution is met directly or indirectly by a staff controller.
5
“
A payment of deemed direct earning
” means a payment the company is treated as making by reason of regulation 14 of the Social Security Contributions (Intermediaries) Regulations 2000 or regulation 14 of the Social Security Contributions (Intermediaries) (Northern Ireland) Regulations 2000.

External workers: attributable expenditure
1132
1
This section applies for the purposes of this Part to identify when qualifying expenditure on externally provided workers is attributable to relevant research and development.
2
Qualifying expenditure on externally provided workers is so attributable if the workers are directly and actively engaged in relevant research and development.
3
Subsection (4) applies if an externally provided worker is partly engaged directly and actively in relevant research and development.
4
The appropriate proportion of the qualifying expenditure relating to the worker is treated as attributable to relevant research and development.
5
Subsection (6) applies if persons provide services (such as secretarial or administrative services) in support of activities carried on by others.
6
Those persons are not, as a result of providing those services, to be treated as themselves directly and actively engaged in those activities.

“Qualifying earnings”
1132A
1
This section determines what are “
qualifying earnings
” in relation to an externally provided worker for the purposes of this Part.
2
The worker’s earnings are qualifying earnings if either—
a
the staff controller, or
b
the company in relation to which the worker is an externally provided worker,
is, in respect of any part of those earnings, required to account to an officer of Revenue and Customs both for income tax under PAYE regulations and for Class 1 national insurance contributions.
3
If subsection
(2)
does not apply, the worker’s earnings are qualifying earnings if and to the extent that they are attributable to relevant research and development that is undertaken outside the United Kingdom and to which section
1138A
applies.
4
In this section, “
the worker’s earnings
” means the worker’s earnings under the contract mentioned in section 1128(7).

Contracting out

Contracted out research and development
1133
1
This section applies for the purposes of this Part.
2
A person “contracts out” research and development if—
a
the person enters into a contract under which activities are to be undertaken for it (whether by another party to the contract or by a sub-contractor),
b
the activities undertaken in order to meet the obligations owed to the person under the contract include research and development, and
c
it is reasonable to assume, having regard to the terms of the contract and any surrounding circumstances, that the person intended or contemplated when entering into the contract that research and development of that sort would be undertaken in order to meet those obligations.
3
The research and development that is “contracted out” is the research and development referred to in subsection
(2)
(b)
, to the extent that subsection
(2)
(c)
is satisfied in relation to it.
4
Research and development contracted out by a person is contracted out “to”—
a
the party to the contract who undertakes the obligations referred to in subsection
(2)
(b)
, and
b
any sub-contractor who undertakes contractual responsibility for the activities needed to meet those obligations.
5
References to a sub-contractor include any sub-contractor at one or more removes from the contract referred to in subsection
(2)
.
6
A “contractor payment” is a payment made in respect of contracted out research and development to a person to whom it is contracted out.
7
A payment that relates only partly to contracted out research and development is to be apportioned on a just and reasonable basis for the purposes of subsection
(6)
.
8
Sections 1134 to 1136 determine the “qualifying element” of a contractor payment.

Qualifying element of contractor payment: connected persons
1134
1
This section applies if—
a
a company (“
A
”) makes a contractor payment to another person (“
B
”),
b
A and B are connected, and
c
in accordance with generally accepted accounting practice, the whole of the ... payment and all of B’s relevant expenditure have been brought into account in determining B’s profit or loss for a relevant period.
2
The qualifying element of the ... payment is—
a
the entire payment, or
b
if less, an amount equal to B’s relevant expenditure.
3
“Relevant expenditure” of B means expenditure that—
a
is incurred by B in carrying on, on behalf of the company, the activities to which the ... payment relates,
b
is not of a capital nature,
c
is incurred on staffing costs, software , data licences, cloud computing services or consumable items or relevant payments to the subjects of a clinical trial or is qualifying expenditure on externally provided workers, and
e
is incurred in respect of—
i
research and development that is undertaken in the United Kingdom, or
ii
research and development that is undertaken outside the United Kingdom and to which section
1138A
applies.
4
“Relevant period” means a period—
a
for which accounts are drawn up for B, and
b
that ends not more than 12 months after the end of A’s period of account in which the contractor payment is, in accordance with generally accepted accounting practice, brought into account in determining A’s profit or loss.
5
In section 1123 (staffing costs) and sections 1127 to 1131 (qualifying expenditure on externally provided workers) as they apply for the purposes of subsection (3)(c), references to a company are to be read as references to B.
6
Any apportionment of expenditure of A or B necessary for the purposes of this section is to be made on a just and reasonable basis.

Election for connected persons treatment
1135
1
Where a company makes a contractor payment to a person with whom it is not connected, the company and that person may jointly elect that section 1134 is to apply to them as if they were connected.
2
Any such election must be made in relation to all contractor payments paid under the same contract or ....
3
The election must be made by notice in writing to an officer of Revenue and Customs.
4
The notice must be given before the end of the period of two years beginning immediately after the end of the company's accounting period in which the contract ... is entered into.
5
An election under this section is irrevocable.

Qualifying element of contractor payment: other cases
1136
1
This section applies to a contractor payment to which section 1134 does not apply.
2
The qualifying element of the payment is 65% of the relevant portion of the payment.
3
The relevant portion is the portion that is incurred in respect of—
a
research and development that is undertaken in the United Kingdom, or
b
research and development that is undertaken outside the United Kingdom and to which section
1138A
applies.
4
An apportionment of expenditure necessary for the purposes of this section is to be made on a just and reasonable basis.

Miscellaneous

Accounting periods: company not within charge to corporation tax
1137
1
This section applies to a company if—
a
it is not within the charge to corporation tax, and
b
it incurs qualifying Chapter 2 expenditure ... .
2
For the purposes of this Part the company is treated as having the accounting periods it would have if—
a
it carried on a trade consisting of the activities in respect of which the expenditure is incurred, and
b
it had started to carry on that trade when it started to carry on relevant research and development.

“Subsidised expenditure”
1138. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Externally provided workers and contractors: R&D undertaken abroad
1138A
1
This section applies to research and development undertaken outside the United Kingdom if—
a
the research and development is undertaken in the circumstances described in subsection
(2)
, or
b
the research and development is undertaken, or contracted out, by a company whose registered office is in Northern Ireland.
2
The circumstances are that there are conditions necessary for the purposes of the research and development—
a
that are not present in the United Kingdom,
b
that are present in the location in which the research and development is undertaken, and
c
that it would be wholly unreasonable for the company to replicate in the United Kingdom.
3
In subsection
(2)
“conditions”—
a
includes—
i
geographical, environmental or social conditions;
ii
legal or regulatory requirements as a result of which the research and development may not be undertaken in the United Kingdom, but
b
does not include conditions so far as relating to—
i
the cost of the research and development;
ii
the availability of workers to carry out the research and development.
4
The Treasury may by regulations make provision specifying things that are not conditions for the purposes of subsection
(2)
.
5
Subsection (1)(b) does not apply in relation to a company in respect of an accounting period if the company—
a
has not, at any time during the accounting period, carried on a trade involving—
i
trade in goods, or
ii
the generation, transmission, distribution, supply, wholesale trade or cross-border exchange of electricity, and
b
has notified an officer of Revenue and Customs in writing that it wishes to rely on the exception in section 1112J(4) (restriction of Chapter 2 relief for Northern Ireland companies).

Exempt foreign permanent establishments
1138B
For the purposes of this Part in its application to an accounting period, a company’s expenditure is “attributable to an exempt foreign permanent establishment” if—
a
an election by the company under section 18A applies to the period, and
b
the expenditure is brought into account in calculating a relevant profits amount or a relevant losses amount for the purposes of that section as it applies in relation to the period.

“Intellectual property”
1139. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Expenditure incurred on payments
1139A
1
References in this Part to expenditure incurred on payments (however expressed) are references to expenditure incurred on payments made before the making of a claim under this Part in relation to that expenditure.

“Relevant payments to the subjects of a clinical trial”
1140
1
For the purposes of this Part “relevant payment”, in relation to a subject of a clinical trial, means a payment made to the subject for participating in the trial.
2
For the purposes of this Part “clinical trial” means an investigation in human subjects undertaken in connection with the development of a health care treatment or procedure.

Groups
1140A
For the purposes of this Part, a company is in the same group as another company if those companies are in the same group for the purposes of Part 5 of CTA 2010.

“Payment period”
1141
In this Part a “payment period” means a period—
a
which ends on the fifth day of a month, and
b
for which the company is liable to account for income tax and national insurance contributions to an officer of Revenue and Customs.

Ineligible companies
1142
1
For the purposes of this Part a company is an “ineligible company” if it is—
a
a charity,
b
an institution of higher education,
c
an association (in the sense that word has in section 469(1)(a) of CTA 2010) which meets conditions A and B in that section (conditions for qualifying as a scientific research association),
d
a health service body within the meaning of section 986 of that Act, or
e
any other body prescribed, or of a description prescribed, by the Treasury, by order, for the purposes of this Part.
2
In subsection (1)(b) “institution of higher education” means—
a
an institution within the higher education sector within the meaning of the Further and Higher Education Act 1992 (c. 13),
b
an institution within the higher education sector within the meaning of Part 2 of the Further and Higher Education (Scotland) Act 1992 (c. 37) or a central institution within the meaning of the Education (Scotland) Act 1980 (c. 44), or
c
a higher education institution within the meaning of Article 30(3) of the Education and Libraries (Northern Ireland) Order 1993 (S.I. 1993/2810 (N.I. 12)).
3
An order under this section is to have effect in relation to the accounting periods or expenditure specified in the order.
4
The order may specify accounting periods beginning, or expenditure incurred, before the time the order is made.
5
Two companies that are in the same group may make a joint election the effect of which is that—
a
in respect of any research and development contracted out by one of those companies to the other, the company contracting it out is to be treated for the purposes of this Part as an ineligible company, and
b
in determining whether activity is research and development for the purposes of this Part, anything done by one of those companies further to a contract with the other is to be treated as if done by the other company, in any case where that results in activity that would not otherwise be research and development being regarded as such.
6
Such an election—
a
must be made by notice in writing to an officer of Revenue and Customs, and
b
has effect until—
i
it is revoked by either company by further such notice, or
ii
the companies are no longer in the same group.

“Claim notification” and “claim notification period”
1142A
1
For the purposes of this Part—
- “
claim notification
” means, in relation to an R&D claim, a notification made by the company to an officer of His Majesty’s Revenue and Customs in accordance with regulations under
subsection (2)
;
- “
claim notification period
” means, in relation to an R&D claim, the period—
  1. beginning with the first day of the period of account which is the same as the accounting period in respect of which the claim is made, or within which that accounting period falls, and
  2. ending with the last day of the period of six months beginning with the first day after that period of account.
2
The Commissioners for His Majesty’s Revenue and Customs may by regulations specify, in relation to a claim notification—
a
information to be provided with the notification;
b
the form and manner in which the notification is to be made.

“R&D claim”
1142B
For the purposes of this Part an “R&D claim” means a claim under—
a
section
1042C
(R&D expenditure credits),
b
section 1044 (relief for SMEs: additional deduction), or
c
section 1054 (entitlement to R&D tax credit).

Right to payment of credit inalienable
1142C
1
The right of a company to be paid an amount of R&D expenditure credit or R&D tax credit may not be assigned.
2
Accordingly, a purported assignment of such a right, or an agreement to assign such a right, is void.
3
References to assignment in this section are to be read in Scotland as references to assignation.

General rule against payments of credit to nominees
1142D
1
Where an amount of R&D expenditure credit or R&D tax credit is owed to a company, an officer of Revenue and Customs may not pay the amount to a person other than the company (even on the instruction or at the request of the company).
2
Subsection
(1)
does not apply if—
a
the company requests that payment be made to a person connected with the company, or
b
the officer is satisfied that exceptional circumstances make payment to the company impracticable or inconvenient.

Orders and regulations: ancillary provision
1142E
Any order or regulations under this Part may—
a
contain incidental, supplemental, consequential and transitional provision and savings;
b
make different provision for different purposes ....
S. 1130(1) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 36(2)
S. 1139 omitted (with effect in accordance with s. 13(8) of the amending Act) by virtue of Finance (No. 3) Act 2010 (c. 33), s. 13(6)
S. 1126(7) inserted (with effect in accordance with s. 28(7) of the amending Act) by Finance Act 2015 (c. 11), s. 28(2)
Words in s. 1129(4) inserted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 35(5)(a)
S. 1125 applied (with modifications) by 2010 c. 4, s. 357BLB(7)(c) (as inserted (with effect in accordance with s. 64(7) of the amending Act) by Finance Act 2016 (c. 24), s. 64(3))
S. 1131(1)(b) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 37
S. 1142(1)(c) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 676(a) (with Sch. 2)
Words in s. 1129(2)(b) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 35(3)
Words in s. 1123(5) omitted (31.12.2020) by virtue of The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 16(21) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)
Words in s. 1128(7) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 34(2)
Ss. 1126A, 1126B inserted (with effect in accordance with s. 28(7) of the amending Act) by Finance Act 2015 (c. 11), s. 28(3)
S. 1131(3) inserted (with effect in accordance with Sch. 1 para. 28 of the amending Act) by Finance Act 2020 (c. 14), Sch. 1 para. 23(3) (with Sch. 1 paras. 30-34)
Ss. 1126-1126B applied (with modifications) by 2010 c. 4, s. 357BLB(7)(d) (as inserted (with effect in accordance with s. 64(7) of the amending Act) by Finance Act 2016 (c. 24), s. 64(3))
Words in s. 1137(1)(b) omitted (with effect in accordance with s. 47(15) of the amending Act) by virtue of Finance Act 2016 (c. 24), s. 47(8)
Words in s. 1119(3) substituted (with effect in accordance with Sch. 15 paras. 28, 29 of the amending Act) by Finance Act 2013 (c. 29), Sch. 15 para. 21
Words in s. 1129(5) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 35(6)(a)
S. 1124 applied (with modifications) by 2010 c. 4, s. 357BLB(7)(b) (as inserted (with effect in accordance with s. 64(7) of the amending Act) by Finance Act 2016 (c. 24), s. 64(3))
S. 1131A inserted (with effect in accordance with Sch. 1 para. 28 of the amending Act) by Finance Act 2020 (c. 14), Sch. 1 para. 23(4) (with Sch. 1 paras. 30-34)
S. 1129(1)(b)(c) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 35(2)
Words in s. 1129(7) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 35(7)
Words in s. 1129(3) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 35(4)(a)
Words in s. 1130(2) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 36(3)
S. 1123 applied (with modifications) by 2010 c. 4, s. 357BLB(7)(a) (as inserted (with effect in accordance with s. 64(7) of the amending Act) by Finance Act 2016 (c. 24), s. 64(3))
Ss. 1127-1131 applied (with modifications) by 2010 c. 4, s. 357BLB(7)(e) (as inserted (with effect in accordance with s. 64(7) of the amending Act) by Finance Act 2016 (c. 24), s. 64(3))
S. 1129(4A) inserted (with effect in accordance with Sch. 1 para. 28 of the amending Act) by Finance Act 2020 (c. 14), Sch. 1 para. 23(2) (with Sch. 1 paras. 30-34)
S. 1128(9) inserted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 34(3)
Words in s. 1129(3)(a) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 35(4)(b)
Words in s. 1142(1)(d) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 676(b) (with Sch. 2)
S. 1140 applied (with modifications) by 2010 c. 4, s. 357BLB(7)(g) (as inserted (with effect in accordance with s. 64(7) of the amending Act) by Finance Act 2016 (c. 24), s. 64(3))
Words in s. 1129(5) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 35(6)(b)
S. 1132 applied (with modifications) by 2010 c. 4, s. 357BLB(7)(f) (as inserted (with effect in accordance with s. 64(7) of the amending Act) by Finance Act 2016 (c. 24), s. 64(3))
S. 1128 modified by 2010 c. 4, s. 357WBA(3) (as inserted (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 7 para. 15)
Words in s. 1123(6) substituted (31.12.2020) by The Taxes (State Aid) (Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1499), regs. 1, 5(2)
S. 1124(5)(6) applied by 2010 c. 4, s. 357BJB(7) (as inserted (with effect in accordance with s. 64(7) of the amending Act) by Finance Act 2016 (c. 24), s. 64(3))
Words in s. 1129(4)(a) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 35(5)(b)
Words in s. 1126(3) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by virtue of Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(4)(b), 20
Words in s. 1126(1) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by virtue of Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(4)(b), 20
S. 1125(1A)(1B) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by virtue of Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(3)(c), 20
S. 1125(1)(aa)(ab) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by virtue of Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(3)(b)(iii), 20
Words in s. 1119(1) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 16(1)(a), 20
Words in s. 1126B(1) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(7)(a)(i), 20
Words in s. 1126B(2)(a) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(7)(b)(i), 20
S. 1126ZA inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by virtue of Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(5), 20
Words in s. 1125(1) substituted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(3)(b)(i), 20
S. 1139A inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 18(2), 20
Words in s. 1126(2) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by virtue of Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(4)(b), 20
Words in s. 1119(2) substituted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 16(1)(b), 20
S. 1126B(4)(aa) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(7)(c), 20
Words in s. 1126 heading inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by virtue of Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(4)(a), 20
Words in s. 1126B(2)(b) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(7)(b)(ii), 20
Words in s. 1125 heading inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(3)(a), 20
S. 1120(6A) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 16(2)(a), 20
Words in s. 1126A heading inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(6), 20
Words in s. 1120(7) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 16(2)(b), 20
Word in s. 1125(1)(a) omitted (with effect in relation to accounting periods beginning on or after 1.4.2023) by virtue of Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(3)(b)(ii), 20
Ss. 1142A, 1142B inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 2(6), 20 Edit
Words in s. 1126(5) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by virtue of Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(4)(b), 20
Ss. 1120A, 1120B inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 16(3), 20
Words in s. 1125 cross-heading inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(2), 20
Words in s. 1126(6) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by virtue of Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(4)(b), 20
Word in s. 1126B(1) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(7)(a)(ii), 20
Words in s. 1134(3)(c) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 6(b), 20
Words in s. 1126(4) inserted (with effect in relation to accounting periods beginning on or after 1.4.2023) by virtue of Finance (No. 2) Act 2023 (c. 30), Sch. 1 paras. 3(4)(b), 20
S. 1142C inserted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(16), 16 (with Sch. 1 paras. 17, 18)
S. 1142D inserted (with effect in accordance with Sch. 1 para. 17(2) of the amending Act) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(17), 16 (with Sch. 1 para. 18)
S. 1142E inserted (22.2.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(18), 16 (with Sch. 1 para. 18)
S. 1142B modified (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 16, 19; S.I. 2024/286, reg. 2
Words in Pt. 13 heading omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 3, 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
S. 1133 and cross-heading substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(7), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1134 heading substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(a), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
S. 1142 heading substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(14)(a), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
S. 1140A inserted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(13), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
S. 1132A inserted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(6), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Ss. 1138A, 1138B inserted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(12), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
S. 1142(5)(6) inserted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(14)(c), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
S. 1126B(3) omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 9(2), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1128(9) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(3), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1129(3) omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 9(4)(a), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
S. 1129(3)(d) and word inserted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(4)(b), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
S. 1131(4) inserted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(5)(b), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Words in s. 1131(2) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(5)(a), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
S. 1134(1)(a)(b) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(b), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1134(1)(c) omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(c)(i), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1134(1)(c) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(c)(ii), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1134(2) omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(d)(i), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1134(2)(b) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(d)(ii), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1134(3) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(e)(i), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
S. 1134(3)(e) substituted for s.1134(3)(d) (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(e)(iv), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1134(3)(a) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(e)(ii), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1134(3)(a) omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(e)(iii), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1134(4)(a) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(f)(i), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1134(4)(b) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(f)(ii), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1134(4)(b) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(f)(iii), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
S. 1134(5) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(g), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Words in s. 1134(6) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(8)(h), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Words in s. 1135(1) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(9)(a), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1135(2) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(9)(b)(i), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Words in s. 1135(2) omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 9(9)(b)(ii), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Words in s. 1135(4) omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 9(9)(c), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
S. 1136 substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(10), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
S. 1138 omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 9(11), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Words in s. 1142(1) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(14)(b), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
Word in s. 1142B(a) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 9(15), 16 (with Sch. 1 paras. 18, 19); S.I. 2024/286, reg. 2
S. 1138A applied (1.4.2024) by The Research and Development (Chapter 2 Relief) Regulations 2024 (S.I. 2024/348), regs. 1(1), 3 (with reg. 2)
S. 1138A(5) inserted (with effect in accordance with s. 29(9) of the amending Act) by Finance Act 2025 (c. 8), s. 29(4)(b)(9)
S. 1138A(1)(b) substituted (with effect in accordance with s. 29(9) of the amending Act) by Finance Act 2025 (c. 8), s. 29(4)(a)(9)
Words in s. 1142E(b) omitted (with effect in accordance with s. 29(9) of the amending Act) by virtue of Finance Act 2025 (c. 8), s. 29(5)(9)