1054Entitlement to and payment of tax creditU.K.
(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.
See section 1057 (which prevents a company from making a claim if it is not a going concern).
(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 1060.
(5)This section is subject to section 1113 (cap on R&D aid in relation to a particular research and development project).
(6)See also section 1062, which restricts the carry forward of losses where a company claims an R&D tax credit.