Part 13Additional relief for expenditure on research and development
Chapter 7Relief for SMEs and large companies: vaccine research etc
Amount of tax credit
1108Total amount of company's PAYE and NIC liabilities
(1)
The total amount of the company's PAYE and NIC liabilities for a payment period is the sum of—
(a)
amount A, and
(b)
amount B.
(2)
Amount A is the amount of income tax for which the company is required to account to an officer of Revenue and Customs for the payment period under PAYE regulations.
(3)
In calculating amount A disregard any deduction the company is authorised to make in respect of child tax credit or working tax credit.
(4)
Amount B is the amount of Class 1 national insurance contributions for which the company is required to account to an officer of Revenue and Customs for the payment period.
(5)
In calculating amount B disregard any deduction the company is authorised to make in respect of payments of statutory sick pay, statutory maternity pay, child tax credit or working tax credit.