43Relief for expenditure on R&D by SMEsU.K.
(1)Part 13 of CTA 2009 (additional relief for expenditure on research and development) is amended as follows.
(2)Chapter 2 (relief for small or medium-sized enterprises (“SMEs”)) is amended in accordance with subsections (3) to (6).
(3)In section 1044 (additional deduction in calculating profits of trade), in subsection (8), for “75%” substitute “ 100% ”.
(4)In section 1045 (alternative treatment for pre-trading expenditure: deemed trading loss), in subsection (7), for “175%” substitute “ 200% ”.
(5)In section 1055 (tax credit: meaning of “Chapter 2 surrenderable loss”), in subsection (2)(b), for “175%” substitute “ 200% ”.
(6)In section 1058 (amount of tax credit), in subsection (1)(a), for “14%” substitute “ 12.5% ”.
F1(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(9). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(11). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(12)This section comes into force on such day as the Treasury may by order appoint.
(13)The amendments made by this section have effect in relation to expenditure incurred on or after 1 April 2011.
Subordinate Legislation Made
P1S. 43(12) power fully exercised: 15.9.2011 appointed by {S.I. 2011/2280}, art. 2
Textual Amendments
F1S. 43(7)-(11) omitted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 3 para. 32(c)