Corporation Tax Act 2009

Rates of relief

112 (1) In relation to expenditure incurred before 1 August 2008, Part 13 has effect with the following modifications.

(2) In Chapter 2 (relief for SMEs: cost of R&D incurred by SME)—

(a) in section 1044(8), for “75%” substitute “50%”,

(b) in section 1045(7), for “175%” substitute “150%”,

(c) in section 1055(2)(b), for “175%” substitute “150%”, and

(d) in section 1058(1)(a), for “14%” substitute “16%”.

(3) In Chapter 7 (relief for SMEs and large companies: vaccine research etc)—

(a) in section 1089(2), for “40%” substitute “50%”,

(b) in section 1090(2), for “40%” substitute “50%”,

(c) in section 1091—

(i) in subsection (3), for “40%” substitute “50%”, and

(ii) in subsection (4), for “140%” substitute “150%”,

(d) in section 1092(8)—

(i) in paragraph (a), for “40%” substitute “50%”, and

(ii) in paragraph (b), for “140%” substitute “150%”, and

(e) in section 1104(5), for “140%” substitute “150%”.