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.
Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)