1U.K.For the purposes of section 29, “total R&D aid”, in respect of expenditure by a company (the “claimant”) attributable to a research and development project, is calculated as follows—
where—
A is total R&D aid,
TC is the tax credits (see paragraph 2),
R is the actual reduction in tax liability (see paragraph 3),
P is the potential relief (see paragraph 4),
CT is the main rate of corporation tax at the time when the total R&D aid is calculated, and
N is the notional relief (see paragraph 5).
Commencement Information
I1Sch. 10 para. 1 in force at 1.8.2008 by S.I. 2008/1928, art. 2