1097R&D thresholdU.K.
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(1)For the purposes of this Chapter a company meets the R&D threshold in an accounting period if its qualifying Chapter 7 expenditure for the period is at least—
(a)£10,000, if the accounting period is a period of 12 months, or
(b)the amount given by subsection (2), if the accounting period is a period of less than 12 months.
(2)The amount referred to in subsection (1)(b) is—
where X is the number of days in the accounting period.
(3)See sections 1098, 1099 and 1100 for the meaning of “qualifying Chapter 7 expenditure” and provision about when such expenditure is “for” an accounting period.