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Corporation Tax Act 2009

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This is the original version (as it was originally enacted).

1083Refunds of expenditure treated as income chargeable to tax

This section has no associated Explanatory Notes

(1)This section applies if a company receives a payment (“the refund”) refunding the whole or any part of expenditure—

(a)to which subsection (2) applies, and

(b)in respect of which the company obtains relief under Chapter 3, 4 or 5.

(2)This subsection applies to—

(a)qualifying Chapter 3 expenditure to which section 1067 applies (expenditure on sub-contracted R&D not undertaken in-house),

(b)qualifying Chapter 4 expenditure (subsidised expenditure on R&D),

(c)capped R&D expenditure, and

(d)qualifying Chapter 5 expenditure which is—

(i)qualifying expenditure on contracted out research and development under section 1078, or

(ii)qualifying expenditure on contributions to independent research and development under section 1079.

(3)30% of the refund is to be treated as income of the company chargeable to tax under Chapter 2 of Part 3 for the accounting period in which the refund is made.

(4)But subsection (3) does not apply if, because of section 1080(4) (gross roll-up business), the relief obtained in respect of the expenditure concerned is an additional deduction in calculating for corporation tax purposes the profits of gross roll-up business of the company.

(5)In that case 30% of the refund is to be treated as income which is—

(a)referable to the gross roll-up business, and

(b)chargeable, for the accounting period in which the refund is made, under the charge to corporation tax on income.

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