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Finance (No. 3) Act 2010

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Changes over time for: Section 13

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There are currently no known outstanding effects for the Finance (No. 3) Act 2010, Section 13. Help about Changes to Legislation

13R&D relief for SMEs: removal of intellectual property conditionU.K.

(1)Part 13 of CTA 2009 (additional relief for expenditure on research and development) is amended as follows.

(2)In section 1052 (qualifying expenditure on in-house direct R&D)—

(a)in subsection (1), for “conditions A to E” substitute “ conditions A, B, D and E ”, and

(b)omit subsection (4) (condition C: intellectual property created as result of research and development to which expenditure is attributable to be vested in company).

(3)In section 1053 (qualifying expenditure on contracted out R&D)—

(a)in subsection (1)(b), for “conditions A to D” substitute “ conditions A, C and D ”, and

(b)omit subsection (3) (condition B: same intellectual property condition).

F1(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F1(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6)Omit section 1139 (meaning of “intellectual property”).

(7)In Schedule 4 to CTA 2009 (index of defined expressions), omit the entry relating to “intellectual property (in Part 13)”.

(8)The amendments made by this section have effect in relation to expenditure incurred by a company in an accounting period ending on or after 9 December 2009.

Textual Amendments

F1S. 13(4)(5) omitted (with effect in accordance with Sch. 15 para. 28 29 of the commencing Act) by virtue of Finance Act 2013 (c. 29), Sch. 15 para. 25

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