PART 2

Corporation tax

Research and development

Abolition of vaccine research relief
47
1
CTA 2009 is amended in accordance with subsections (2) to (9).
2
Omit Chapter 7 of Part 13 (vaccine research relief).
3
In section 1039 (overview of Part 13) omit—
a
subsection (6), and
b
in subsection (8) “or 7”.
4
In section 1042 (meaning of “relevant research and development”) omit subsection (3).
5
In section 1113 (cap on aid under Chapters 2 and 7)—
a
in the heading omit “or 7”, and
b
in subsection (4) omit—
i
the “or” at the end of paragraph (a), and
ii
paragraph (b).
6
In section 1118(2) (meaning of “qualifying expenditure”) omit—
a
the “or” at the end of paragraph (a), and
b
paragraph (b).
7
In section 1133(3) (sub-contractor payments) omit “and section 1102(2).”
8
In section 1137(1)(b) (accounting periods) omit “or qualifying Chapter 7 expenditure”.
9
In Schedule 4 (index of defined expressions) omit the entries for—
a
qualifying Chapter 7 expenditure (in Part 13), and
b
qualifying R&D activity (in Chapter 7 of Part 13).
10
CTA 2010 is amended in accordance with subsections (11) to (13).
11
In section 357P (research and development expenditure: introduction and interpretation)—
a
in subsection (1) omit—
i
the “and” at the end of paragraph (b), and
ii
paragraph (c), and
b
omit subsection (2)(d) and (e).
12
Omit section 357PF (additional deduction under section 1087 CTA 2009).
13
In Schedule 4 (index of defined expressions) omit the entries for—
a
Northern Ireland qualifying Chapter 7 expenditure (in Chapter 9 of Part 8B), and
b
qualifying Chapter 7 expenditure (in Chapter 9 of Part 8B).
14
In consequence of the amendments made by subsections (1) to (13)—
a
in Schedule 3 to FA 2012 omit paragraphs 7, 12 to 14, 16(2), 17, 20 to 30, and 31(2), and
b
in FA 2015 omit section 28(4)(o) and (p).
15
The amendments made by this section have effect in relation to expenditure incurred on or after 1 April 2017.