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Part 13U.K.F1... expenditure on research and development

Textual Amendments

F1Words in Pt. 13 heading omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 3, 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2

Chapter 1U.K.Introduction

InterpretationU.K.

1042“Relevant research and development”U.K.

(1)In this Part “relevant research and development”, in relation to a company, means research and development—

(a)related to a trade carried on by the company, or

(b)from which it is intended that a trade to be carried on by the company will be derived.

(2)Research and development related to a trade carried on by a company includes—

(a)research and development which may lead to or facilitate an extension of the trade, and

(b)research and development of a medical nature which has a special relation to the welfare of workers employed in the trade.

F2(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F2S. 1042(3) omitted (with effect in accordance with s. 47(15) of the amending Act) by virtue of Finance Act 2016 (c. 24), s. 47(4)