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Corporation Tax Act 2009
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1054Entitlement to and payment of tax creditU.K.
This section has no associated Explanatory Notes
(1)A company is entitled to an R&D tax credit for an accounting period if it has a Chapter 2 surrenderable loss in the period (see section 1055).
(2)For the company to obtain an R&D tax credit in respect of all or part of the Chapter 2 surrenderable loss it must make a claim [F1(see Part 9A of Schedule 18 to the FA 1998, and also sections 1054A and 1112F)].
F2...
(3)The amount of an R&D tax credit to which the company is entitled is determined in accordance with section 1058.
(4)If a company makes a claim for an R&D tax credit to which it is entitled for an accounting period, an officer of Revenue and Customs must pay to the company the amount of the credit.
This is subject to section [F31112H].
F4(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6)See also section 1062, which restricts the carry forward of losses where a company claims an R&D tax credit.
Textual Amendments
F1Words in s. 1054(2) inserted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 6(10)(a)(i), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
F2Words in s. 1054(2) omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 6(10)(a)(ii), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
F3Word in s. 1054(4) substituted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 6(10)(b), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
F4S. 1054(5) omitted (with effect in relation to accounting periods beginning on or after 1.4.2024) by virtue of Finance Act 2024 (c. 3), Sch. 1 paras. 6(10)(c), 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2
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