(1)CTA 2009 is amended as follows.
(2)In section 104A (R&D expenditure credits), after subsection (7) insert—
“(7A)Section 104WA contains provision about ineligible companies.”
(3)After section 104W insert—
(1)No claim for an R&D expenditure credit may be made in respect of expenditure incurred by an ineligible company.
(2)In this section, “ineligible company” means a company that is—
(a)an institution of higher education (as defined by section 1142(1)(b)),
(b)a charity, or
(c)a company of a description prescribed by the Treasury by regulations.”
(4)In section 1310(4) (orders and regulations subject to affirmative procedure), before paragraph (zza) insert—
“(zzza)section 104WA (ineligible companies for the purposes of R&D expenditure credits),”.
(5)The amendments made by this section have effect in relation to expenditure incurred on or after 1 August 2015.