C1Part 3Trading income
F2CHAPTER 6ATrade profits: R&D expenditure credits
Pt. 3 Ch. 6A inserted (with effect in accordance with Sch. 15 para. 27 of the amending Act) by Finance Act 2013 (c. 29), Sch. 15 para. 1
Amount of credit
104MAmount of R&D expenditure credit
1
The amount of the R&D expenditure credit to which a company is entitled for an accounting period is the relevant percentage of the amount of the company's qualifying R&D expenditure for the period.
2
In the case of a ring fence trade, the relevant percentage is 49%.
In this subsection “ring fence trade” has the meaning given by section 277 of CTA 2010.
3
In any other case, the relevant percentage is F120%.
4
The Treasury may by order replace the percentage for the time being specified in subsection (2) or (3) with a different percentage.
5
An order under subsection (4) may contain incidental, supplemental, consequential and transitional provision and savings.
Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)