1058Amount of tax creditU.K.
(1)The amount of the R&D tax credit to which a company is entitled for an accounting period is—
(a)[F111%] of the amount of the Chapter 2 surrenderable loss for the period, F2...
F2(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)The Treasury may by order replace the percentage for the time being specified in subsection (1)(a) with a different percentage.
(3)An order under subsection (2) may contain incidental, supplemental, consequential and transitional provision and savings.
Textual Amendments
F1Word in s. 1058(1)(a) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 2(5)
F2S. 1058(1)(b) and the word immediately preceding it omitted (with effect in accordance with Sch. 3 para. 39 of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 3 para. 15(2)