Part 13Additional relief for expenditure on research and development
Chapter 7Relief for SMEs and large companies: vaccine research etc
Reliefs
1091Large companies: amount of deduction
1
This section applies if—
a
a company makes a claim under section 1087 for relief to which it is entitled for an accounting period, and
b
the company is a large company throughout the period.
2
The amount of the deduction under that section is the sum of—
a
amount A, and
b
amount B.
3
Amount A is 40% of so much of the company’s qualifying Chapter 7 expenditure for the period as is allowable as a deduction in calculating for corporation tax purposes the profits for the period of a trade carried on by the company.
4
Amount B is 140% of so much of the company’s qualifying Chapter 7 expenditure for the period that is not so allowable.
5
The deduction is in addition to any other deduction in respect of the expenditure.
6
See sections 1098 and 1100 for the meaning of “qualifying Chapter 7 expenditure” and provision about when such expenditure is “for” an accounting period.