Part 13... expenditure on research and development
Chapter 2Relief for loss-making, R&D-intensive SMEs
Amount of tax credit
1058Amount of tax credit
(1)
The amount of the R&D tax credit to which a company is entitled for an accounting period is F1the lesser of—
F5(aa)
the amount of the cap by reference to the company’s PAYE and NIC liabilities for the accounting period (see section 1112B).
F3(b)
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F6(1A)
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F6(1B)
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F6(1C)
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F7(2)
The Treasury may by regulations—
(a)
replace the percentage for the time being specified in subsection (1)(a) with a different percentage;
F8(b)
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F9(c)
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F10(3)
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