Part 13 U.K.Additional relief for expenditure on research and development

Chapter 2 U.K.Relief for SMEs: cost of R&D incurred by SME

Amount of tax credit U.K.

1058 Amount of tax credit U.K.

(1) The amount of the R&D tax credit to which a company is entitled for an accounting period is—

(a) [F1 11%] of the amount of the Chapter 2 surrenderable loss for the period, F2 ...

F2 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2) The Treasury may by order replace the percentage for the time being specified in subsection (1)(a) with a different percentage.

(3) An order under subsection (2) may contain incidental, supplemental, consequential and transitional provision and savings.

Textual Amendments

F1 Word in s. 1058(1)(a) substituted (with effect in accordance with Sch. 3 para. 38 of the amending Act) by Finance Act 2012 (c. 14), Sch. 3 para. 2(5)

F2 S. 1058(1)(b) and the word immediately preceding it omitted (with effect in accordance with Sch. 3 para. 39 of the amending Act) by virtue of Finance Act 2012 (c. 14), Sch. 3 para. 15(2)