C1Part 3Trading income

Annotations:
Modifications etc. (not altering text)

F1CHAPTER 6ATrade profits: R&D expenditure credits

Annotations:
Amendments (Textual)
F1

Pt. 3 Ch. 6A inserted (with effect in accordance with Sch. 15 para. 27 of the amending Act) by Finance Act 2013 (c. 29), Sch. 15 para. 1

SMEs: capped R&D expenditure

104ICapped R&D expenditure

For the purposes of this Chapter a company's “capped R&D expenditure” means any expenditure—

a

in respect of which the company is not entitled to relief under Chapter 2 of Part 13 merely because of section 1113 (cap on R&D aid),

b

which is not qualifying expenditure on sub-contracted R&D, and

c

which would have been qualifying R&D expenditure had the company been a large company throughout the accounting period in question.