82B Payments to research associations, universities etc.U.K.
(1)Notwithstanding anything in section 74, where a [F1company] carrying on a trade—
[F2(a)pays any sum to an Association in the case of which exemption may be claimed under section 508 and which has as its object the undertaking of research and development which may lead to or facilitate an extension of the class of trade to which the trade carried on by the company belongs, or
(b)pays any sum to be used for scientific research related to that class of trade] to any such university, college research institute or other similar institution as is for the time being approved for the purposes of this section by the Secretary of State,
the sum paid may be deducted as an expense in computing the profits of the trade for the purposes of [F3corporation] tax.
(2)In this section “scientific research” means any activities in the fields of natural or applied science for the extension of knowledge.
(3)The reference in [F4subsection (1)(b) above] to scientific research related to a class of trade includes—
(a)scientific research which may lead to or facilitate an extension of trades of that class;
(b)scientific research of a medical nature which has a special relation to the welfare of workers employed in trades of that class.
(4)If a question arises under this section whether, or to what extent, any activities constitute or constituted scientific research, the Board shall refer the question for decision to the Secretary of State.
The decision of the Secretary of State is final.
(5)The same expenditure may not be taken into account under this section in relation to more than one trade.
Textual Amendments
F1Word in s. 82B(1) substituted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 55(a) (with Sch. 2)
F2Words in s. 82B(1) substituted (with effect in accordance with s. 15(4) of the amending Act) by Finance (No. 2) Act 2005 (c. 22), s. 15(2)
F3Word in s. 82B(1) inserted (6.4.2005 with effect in accordance with s. 883(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 55(c) (with Sch. 2)
F4Words in s. 82B(3) substituted (with effect in accordance with s. 15(4) of the amending Act) by Finance (No. 2) Act 2005 (c. 22), s. 15(3)