Part 13... expenditure on research and development
Chapter 7Relief for large companies: vaccine research etc
Introductory
F11085Overview of Chapter
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F11086Meaning of “qualifying R&D activity”
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Reliefs
F11087Deduction in calculating profits of trade
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F11088Declaration about effect of relief
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F21089SMEs: amount of deduction
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F31090Modification of section 1089 for larger SMEs
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F11091Amount of deduction
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F41092SMEs: deemed trading loss for pre-trading expenditure
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F41093Modification of section 1092 for larger SMEs
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F41094Relief only available to SME where company is going concern
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Deemed trading loss: further provision
F41095Elections under section 1092
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F41096Treatment of deemed trading loss under section 1092
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Threshold
F51097R&D threshold
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Qualifying expenditure
F11098Meaning of “qualifying Chapter 7 expenditure”
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F61099SMEs: qualifying expenditure “for” an accounting period
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F11100Qualifying expenditure “for” an accounting period
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F11101Qualifying expenditure on in-house direct R&D
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F11102Qualifying expenditure on contracted out R&D
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Tax credit: entitlement and payment
F71103Entitlement to and payment of tax credit
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F71104Meaning of “Chapter 7 surrenderable loss”
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F71105Amount of trading loss which is “unrelieved”
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F71106Tax credit only available where company is going concern
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Amount of tax credit
F71107Amount of tax credit
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F71108Total amount of company's PAYE and NIC liabilities
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Supplementary
F71109Payment of tax credit
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F71110Tax credit payment not income of company
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F71111Restriction on losses carried forward where tax credit claimed
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Tax avoidance
F11112Artificially inflated claims for relief
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