SCHEDULES

SCHEDULE 15R&D expenditure credits

PART 1Amendments of CTA 2009

2

1

Part 13 of CTA 2009 (additional relief for expenditure on research and development) is amended as follows.

2

After section 1040 (and before the cross-heading “Interpretation”) insert—

1040AR&D expenditure credits

1

For provision enabling a company carrying on a trade to make a claim for an amount in respect of expenditure on research and development (an “R&D expenditure credit”) to be brought into account as a receipt in calculating the profits of the trade for an accounting period, see Chapter 6A of Part 3.

2

For provision prohibiting a company from making a claim for an R&D expenditure credit and for relief under this Part in respect of the same expenditure, see section 104B.

3

In section 1138 (meaning of “subsidised expenditure”), in subsection (3), omit the “and” at the end of paragraph (a) and after paragraph (b) insert—

c

R&D expenditure credits under Chapter 6A of Part 3.